LIC to Acquire Up to 10% Equity Stake in NHB-Backed 'RMBS' Venture

Daily Current Affairs / LIC to Acquire Up to 10% Equity Stake in NHB-Backed 'RMBS' Venture

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Category : Business and economics Published on: January 12 2024

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LIC's board has given the nod to acquire up to a 10% stake in a company supported by the National Housing Bank (NHB), specializing in residential mortgage-backed securities (RMBS).
This strategic investment is part of LIC's broader financial initiatives and is approved for implementation through equity contributions in one or more installments.
LIC already has a housing finance subsidiary, LIC Housing Finance Ltd, established in 1994 and publicly listed on both the NSE and BSE.
This move reflects LIC's continued interest and engagement in the housing finance sector, contributing to its diversified financial portfolio.

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LIC to Acquire Up to 10% Equity Stake in NHB-Backed 'RMBS' Venture