LIC Housing Finance Ltd Company History

The Company was incorporated on 19th June as a public limited company. It was promoted by LIC of India. The Company provide housing loans to individuals, builders, development authorities, employers organisation etc.

The Company has started various schemes: Griha Prakash a general scheme, Griha Tara under which it accepts only Bima Sandesh Plan as Life Insurance Corporation, Griha Shobha for NRIs and Griha Lakshmi for people to have a second house.

3,00,57,900 No. of equity shares were issued at a premium of Rs 50 per share through public issue on 15th November 1994. The allotment was as follows; 10,82,000 shares to LIC on firm allotment basis and the balance 189,75,900 shares to public (all were taken up).

The Company has decided to carry out fund based and one-fund based activities, viz., debt securitisation, lease and hire purchase, renting of properties and giving guarantee to co-operate bodies.

Crisil has assigned a AAA rating to the issue of mortgage backed pass through certificate backed by mortgages orginated by the company.

The Company has launched its new scheme, "Griha Vikas".

LIC Housing Finance Ltd has informed BSE that the Company has forfeited 1,25,300 equity shares due to non payment of allotment/call monies.

LIC Housing Finance has approved for the take over of Individual Housing loan portfolio

of GLFL Housing Finance.

Around 25 investors subscribed to the issue of confidentially placed debentures for a total

amount of Rs.392 cr of LIC Housing Finance Ltd.

LIC Housing Finance Ltd has decreased its interest rates on housing loans by 25-50 basis

points.

Financial Institutions have increased their stake from 0.01% to 1.96% and Mutual Fund

companies have increased their stake from 0.35% to 1.06% in LIC Housing Finance.

LIC Housing Finance Ltd has decreased the floating rate of interest under individual loan

scheme to 9.5% from 11%.

LIC Housing Financee signed a deed of assignment to take over individual housing loan

portfolio of Citibank N A.

UTI and IFCI has been removed from the list of promoters of LIC Housing Finance.

LIC Housing Finance has unveiled a new project for elderly people called 'LIC HFL Care

Homes' .

LIC Housing Finance Ltd has sanctioned 84,126 loans worth Rs.3265.78cr and disbursed

76,663 loans worth Rs.2941.24cr under its Individual Loan Scheme.

LICHFL has mobilised Rs.280cr for 15 years at 7% rate of interest through private placement.

Lic Housing Finance Ltd has informed that the shares of the company have been delisted from The Stock Exchange - Ahmedabad w.e.f December 08, 2003.

Merill Lynch Capitat acquires LIC housing stake of 0.39%

Templeton Asset Management buys 37,52,362 equity shares, representing 5.01% of LIC Housing's total paid-up capital of Rs 74.9 crore

LIC Housing Finance Ltd has informed that the shares of the Company has been voluntarily delisted from the Delhi Stock Exchange (DSE) w.e.f. January 23, 2004.

LIC Housing Finance shares delisted from Madras Stock Exchange

Mr D Krishnan appointed as Chief Executive Officer

LIC Housing Finance Ltd's (LICHFL) one-crore global depository receipts (GDR) issue opened on August 27.

Lists its maiden global offerings worth $29.85 million at the Luxembourg Stock Exchange successfully.

Introduces new product that starts as a fixed rate loan but contains an option to convert it to a floating rate loan at the end of five years, at the then prevailing rate.

Delist from The Calcutta Stock Exchange Association Ltd (CSE) with effect from December 09, 2004.

LIC Housing Finance launches loan product that eliminates the requirement of charge on house financed.

Goldman Sachs acquires share in LICHF

LIC Housing Finance to launch FD scheme

LIC Housing Finance to enter into reverse mortgage product

LIC Housing Finance Ltd has informed that the Board has appointed the following persons as Directors on the Board of the Company on May 20, 2008:

Name of the Director : Shri. D K Mehrotra

For the Position of : Managing Director

Change effective from : May 20, 2008.

LIC Housing Finance Ltd has informed that the Board of Directors of the Company has appointed following person as Director on the Board of the Company on July 01, 2008.

Name of the Director : Shri A S Narayanamoorthy

For the position of : Additional Director

Change effective from : July 02, 2008

LIC Housing Finance launches Reverse Mortgage for senior citizens

LIC Housing Finance cut interest rates for new loans by 0.5% where for customers opting for floating rate loans between Rs 30 lakh and Rs 75 lakh, the new rates will be 8.755 against 9.25%.

The Company is applying for a license with the Pension Fund Regulatory Development Authority (PFRDA) to act as Aggregator under the National Pension System (NPS) - Lite.

LIC Housing Finance Ltd has decided to unveil a private equity fund focussed on real estate development projects.

LIC Housing Finance on October 27 has approved a stock split in the ratio of 1:5 to boost the liquidity of its scrip.

Company has splits its Face value of Shares from Rs 10 to Rs 2

Dinesh Kumar Mehrotra, Managing Director for international operations in LIC, was appointed interim Chairman.

LIC Housing Finance has said that it has begun the process of raising funds through Qualified Institutional Placements (QIPs).

LIC Housing Finance has recommended a dividend of Rs. 3.80 per equity share of Rs. 2/- each.

LIC Housing Finance has recommended a dividend of Rs. 4.50 per equity share of Rs. 2/- each (225% including Silver Jubilee dividend of 25%).

LIC Housing Finance launches new home loan product.