Home Markets Stock exchanges examining preferential share issue to parent: LIC Housing Finance

Stock exchanges examining preferential share issue to parent: LIC Housing Finance

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LIC Housing Finance (LIC HFL) fixed the issue price for the shares at Rs 514.25 apiece to its promoter Life Insurance Corporation of India (LIC) on a preferential basis.

The housing finance arm of state-run Life Insurance Corp, LIC Housing Finance, on Saturday said stock exchanges are examining its proposal of preferential allotment of shares to the parent company.

In June this year, LIC Housing Finance had informed that LIC will infuse equity capital of about Rs 2,334.70 crore in the subsidiary by picking up an additional stake.

LIC Housing Finance (LIC HFL) fixed the issue price for the shares at Rs 514.25 apiece to its promoter Life Insurance Corporation of India (LIC) on a preferential basis.

The company has, vide an email dated July 16, 2021, from BSE India Limited and National Stock Exchange of India Limited, received information the said preferential allotment is under examination by the exchanges, LIC Housing Finance said in a regulatory…

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