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LIC Housing Finance Ltd.

BSE: 500253 Sector: Financials
NSE: LICHSGFIN ISIN Code: INE115A01026
BSE 00:00 | 31 Mar 235.20 6.65
(2.91%)
OPEN

235.00

HIGH

240.50

LOW

230.90

NSE 00:00 | 31 Mar 235.30 6.40
(2.80%)
OPEN

236.00

HIGH

240.80

LOW

230.50

OPEN 235.00
PREVIOUS CLOSE 228.55
VOLUME 92552
52-Week high 586.80
52-Week low 186.00
P/E 4.44
Mkt Cap.(Rs cr) 11,869
Buy Price 233.00
Buy Qty 40.00
Sell Price 238.00
Sell Qty 28.00
OPEN 235.00
CLOSE 228.55
VOLUME 92552
52-Week high 586.80
52-Week low 186.00
P/E 4.44
Mkt Cap.(Rs cr) 11,869
Buy Price 233.00
Buy Qty 40.00
Sell Price 238.00
Sell Qty 28.00

LIC Housing Finance Ltd. (LICHSGFIN) - Company History

LIC Housing Finance Ltd (LICHFL) is one of the largest housing finance companies in India with a key objective of providing long term finance to individuals for the purchase or construction of house/flat for residential purposes in India. LICHFL also provides finance on existing property for business/personal needs and also gives loans to professionals for purchase/construction of Clinics/Nursing Homes/ Diagnostic Centers/ Office Space and also for purchase of equipment. The Company also provides finance to builders and developers engaged in the business of construction of houses or flats for residential purpose and to be sold by them. The company has one of the widest networks of offices across the country. The company has its registered and corporate office at Mumbai. It has 9 regional offices 23 back offices and 249 marketing units across India. LICHFL has set up a representative office in Dubai and Kuwait to cater to the non-resident Indians in the GLCC countries covering Bahrain Dubai Kuwait Qatar and Saudi Arabia.LICHFL has four subsidiaries viz. LICHFL Financial Services Limited LICHFL Asset management Company Limited LICHFL Trustee Company Private Limited and LICHFL Care Homes Limited. LICHFL Financial Services was established for undertaking non fund based activities like marketing of housing loans insurance products credit card mutual funds Pension Schemes etc. The company provides multiple financial solutions for every customer segment through its territory offices spread across the Country.LICHFL Asset management Company is the Investment Manager of LICHFL Urban Development Fund a Venture Capital Fund with focus on mid income housing and Income yielding micro infrastructure assets. The LICHFL Urban Development Fund is sponsored by LIC Housing Finance Limited and co-sponsored by LIC of India. LICHFL Trustee Company Private Limited currently provides Trusteeship services to LICHFL Urban Development Fund managed by LICHFL Asset Management Company Limited. LICHFL Care Homes Limited was established to set up and operate assisted community living centres for Senior Citizens. It has established Care Homes under two Projects in Bengaluru and another one in Bhubaneswar is nearing Completion. LICHFL Care Homes Limited is also developing a Senior Living project at Vasind in collaboration with TATA value Homes Limited.LIC Housing Finance Ltd was incorporated on June 19 1989. The company was promoted by LIC of India and went public in the year 1994. The company is recognized by National Housing Bank and listed on the National Stock Exchange (NSE) & Bombay Stock Exchange Limited (BSE) and its shares are traded only in Demat format. The GDR's are listed on the Luxembourg Stock Exchange.In the period of 2001 the company launched their new scheme called Griha Vikas. In the year 2002 the company signed a deed of assignment to take over individual housing loan portfolio of Citibank. In the year 2003 they unveiled a new project for elderly people called LICHFL Care Homes. The company launched their maiden GDR issue in the year 2004. Also they introduced flexi-fixed scheme offering fixed rate of interest for first five years and variable thereafter.In October 2005 the company started offering of 'New Griha Laxmi' housing loans against the security of certain approved financial assets like Bank Fixed Deposits National Savings Certificates and Life Insurance Policies. In the year 2006 the company introduced new Griha Jestha for senior citizens for buying unit of LICHFL Care Homes Ltd. In May 2007 the company launched maiden Fixed Deposit Scheme.In October 31 2007 the company incorporated LICHFL Financial Services Ltd for undertaking non fund based activities like marketing of housing loans insurance products credit card mutual fund personal loan etc. In February 2008 they launched reverse mortage for senior citizens above 60 years of age. In February 14 2008 the company incorporated LICHFL Asset Management Company Private Limited for undertaking the business of managing advising administering venture funds unit trust investment trust in India as well as abroad.In March 5 2008 the company incorporated LICHFL Trustee Company Private Limited for undertaking the business of trustees of venture capital trust funds - in India and offshore fund. In March 12 2008 they launched a new venture capital fund for realty projects. During the year 2009-10 the company was awarded the 'Second Best Home Loan Provider' award by Outlook Profit. During the year 2010-11 the company launched a unique interest rate scheme namely 'MINI 5' to cater to housing finance needs of the priority sector population residing in Tier II and Tier III cities.On 6 September 2010 LIC Housing Finance announced that it is applying for a license with the Pension Fund Regulatory Development Authority (PFRDA) to act as Aggregator under the National Pension System (NPS) - Lite.The Board of Directors of LIC Housing Finance at its meeting held on 27 October 2010 approved subdivision of Equity shares of the Company of Rs. 10/- each into 5 equity shares of Rs. 2/- each.In 2011 LIC Housing Finance crossed Rs 50000 crore loan portfolio milestone. On 21 March 2012 LIC Housing Finance completed allotment of 3 crore equity shares to LIC of India the promoter of the company on preferential allotment basis at issue price of Rs 270 per share. In 2013 the company crossed Rs 1000 crore profit and Rs 75000 crore assets mark. In 2015 the company crossed Rs 1 lakh crore loan portfolio mark. The Board of Directors of LIC Housing Finance at its meeting held on 15 December 2015 approved the proposal to acquire upto 19.3% in the paid up Equity Share Capital of LIC Nomura Mutual Fund Asset Management Company Limited from Nomura Asset Management Strategic Investment Pte Ltd for a consideration not exceeding Rs 27.36 crore and upto 19.3% in the paid up Equity Share Capital of LIC Nomura Mutual Fund Trustee Company Private Ltd. for a consideration not exceeding Rs 1.52 lakh.In 2017 LIC Housing Finance crossed Rs 1.5 lakh crore assets mark.