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

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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