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LIC To Pick Up 10% Stake In NHB-Promoted Company
In a regulatory filing, LIC said the board has cleared the proposal to invest in a new company, promoted by the NHB, for residential mortgage-backed securities, through equity contribution up to 10% of the share capital.
08 Jan 2024, 08:25 PM IST 
(Source: NDTV Profit)
Life Insurance Corporation of India (LIC) on Monday said its board has approved acquiring up to 10 per cent in a company promoted by the National Housing Bank (NHB).
In a regulatory filing, LIC said the board has cleared the proposal to invest in a new company, promoted by the NHB, for residential mortgage-backed securities, through equity contribution up to 10% of the share capital.
The investment is to be made in one or more tranches, it added.
Details about the company were not disclosed.
LIC has a housing finance subsidiary -- LIC Housing Finance Ltd -- that was incorporated in 1989. This company went public in 1994 and since then its stocks are listed on the National Stock Exchange (NSE) and Bombay Stock Exchange Limited (BSE).
