LIC Housing Finance gained 2.10% to Rs 427.25 after the housing financier allotted 4.54 crore shares on preferential basis to Life Insurance Corporation of India (LIC) at Rs 514.43 each.
LIC Housing Finance on on Thursday (8 September) allotted 4,54,00,000 equity shares on a private placement basis to LIC for a subscription amount of Rs 2,335.51 crore. The shares were issued at Rs 514.43 each.LIC Housing Finance is one of the largest housing finance companies in India. As of 30 June 2021, LIC held 40.31% in the company.
LIC Housing Finance's consolidated net profit slumped 81.7% to Rs 151.07 crore on a 2.4% decrease in total income to Rs 4,867.22 crore in Q1 FY22 over Q1 FY21.
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