GIC raises Rs. 195cr via NCDs

New Delhi: GIC Housing Finance on Tuesday said it has raised Rs 195 crore through issuance of non-convertible debentures (NCDs) to Aditya Birla Sun Life Mutual Fund (ABSLMF) on private placement basis."...pursuant to the authority accorded by our board... 1,950 numbers of NCDs, having a face value of Rs 10,00,000 each at par for an aggregate amount of Rs 195 crore, issued on private placement basis," GIC Housing Finance said in a regulatory filing.

The NCDs have been allotted to ABSLMF and carry an interest rate of 6.94 per cent per annum. GIC Housing Finance said the NCDs are proposed to be listed on BSE. Shares of GIC Housing Finance were trading 1.21 per cent higher at Rs 117.15 a piece on BSE.