LIC Housing Finance calls EGM to approve issuance of equity shares on preferential basis; Stocks gains over 2%

The company plans to create, offer, issue, and allot 4.54cr equity shares of Rs2 at an issue price of Rs514.25 for an amount of over Rs2,334cr.

Jun 25, 2021 12:06 IST India Infoline News Service

LIC Housing Finance
LIC Housing Finance Limited has given notice of the Extraordinary General Meeting (EGM) of its members on July 19 to approve the issuance of equity shares on a preferential basis.

The company plans to create, offer, issue and allot 4,54,00,000 equity shares of Rs2 at an issue price of Rs514.25 for a consideration not exceeding an aggregate amount of over Rs2,334cr by way of preferential allotment on a private placement basis, to Life Insurance Corporation of India, whose shareholding in the company subsequent to the proposed preferential allotment of shares, would be 45.24% as against the pre-issue shareholding of 40.313%.

At around 12.05 PM, LIC Housing Finance Ltd. was trading at Rs467.65 per piece up Rs9.90 or 2.16% on the BSE. The company stock hit a day’s high of Rs475.45 per piece on Friday.

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