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GIC Housing edges higher on plans to raise funds up to Rs 2500 crore

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GIC Housing Finance rose 1.15% to Rs 219.90 after the company announced that its board will consider a proposal to raise funds by way of issue of NCDs on private placement basis upto an aggregate amount of Rs 2500 crore.
At the same meeting, the board will also consider and approve the financial results for the quarter and the year ended on 31 March 2024 and recommend dividend, if any, for the period under consideration.
GIC Housing Finance provides individual housing loans to the middle-income to low-income group in Tier-II and Tier-III cities.
The company's consolidated net profit had declined 45.52% to Rs 35.65 crore on a 6.78% fall in revenue to Rs 259.84 crore in Q3 FY24 over Q3 FY23.
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First Published: Apr 04 2024 | 1:52 PM IST

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