LIC Housing Finance Limited (LIC HFL) is the largest Housing Finance Company in India, with a registered corporate office in Mumbai. It is a deposit taking housing finance company, and it is a subsidiary of LIC, mainly providing long-term financing to people who purchase or construct residential houses or flats. It also finances the repair and renovation of existing residences and gives loans to businesses to purchase or construct clinics, nursing homes, diagnostic centres, office space or equipment.[3]
History
The company was incorporated on 19 June 1989, under the Companies Act, 1956. It was promoted by Life Insurance Corporation of India and went public in the year 1994. The maiden global depository receipt (GDR) issue was launched in 2004.[4] The Authorized Capital of the company is Rs.1500 Million (Rs.150 crore) and its paid-up Capital is Rs.1009.9 Million (Rs.100.99 crore). The company is registered with National Housing Bank and listed on the National Stock Exchange (NSE) & Bombay Stock Exchange Limited (BSE) and its shares are traded only in Demat format. The GDR's are listed on the Luxembourg Stock Exchange.