GIC Housing Fin to seek shareholders' nod for raising up to Rs 2,500 cr next month

New Delhi: GIC Housing Finance Ltd on Wednesday said it will seek shareholders' nod to raise up to Rs 2,500 crore in debt capital, during its AGM next month. The company's next annual general meeting (AGM) is to be held on September 27.

"Shareholders' approval is being sought in the aforesaid 31st AGM of the company for fundraising by way of issue of redeemable non-convertible debentures/bonds on a private placement basis up to aggregate the limit of Rs 2,500 crore," GIC Housing Finance said in a regulatory filing.

It added that the proposed funds are to be raised in one or more tranches.

Further, the company said the AGM will also decide on the dividend to be paid by the company. "The dividend will be paid (if approved at AGM) on or after October 7, 2021," it added.

Shares of GIC Housing on Wednesday fell 2.23 per cent to close at Rs 140.45 apiece on the BSE.