LIC Housing raise Rs. 50,500 crore

LIC Housing Finance said it would seek shareholders’ approval in the upcoming annual general meeting this month to raise up to Rs. 50,500 crore by issuing debt securities or other hybrid instruments on a private placement basis. LIC Housing Finance said its overall borrowing power is Rs. 3 lakh crore and the proposed fund-raise plan is within the limit. The proposal will be taken up at its annual general meeting on September 28 for approval from shareholders.