INSUBCONTINENT EXCLUSIVE:
MUMBAI: LIC Housing Finance Monday deferred its plan to raise up to Rs 1,500 crore through nonconvertible debentures (NCD) because of higher
The housing finance company now plans to raise the funds later this week.
Since October, the company has raisedRs 3,000 crore through NCDs
3 years 11 months and 5 years
The bidding was between 11 am and 12 am
funds to match their liability commitments with cash flows from assets.
The company plans to raise Rs 15,000 crore to Rs 20,000 crore
through a combination of NCDs, bank lines and commercial papers
The commercial paper outstanding for the company is Rs 10,000 crore to Rs 12,000 crore, amounting to about 8 per cent of the book
Profit at the housing finance company rose 12 per cent to Rs 573 crore during the second quarter of the financial year
Gross nonperforming assets for the company stood at 1.20 per cent as on September 30, 2018
Gross NPAs in the individual segment was 0.81 per cent, while in the corporate segment it was at 7.03 per cent.
