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Saturday, January 5, 2013

LIC Housing property expo begins in Hyderabad

LIC Housing Finance Ltd is organising a two-day mega property show at Hitex in Madhapur.

“We are targeting a business of Rs 200 crore during these two days,’’ V.K. Sharma, Director and Chief Executive, LIC Housing Finance, told newspersons after inaugurating the exhibition here on Saturday.

This is the sixth annual property show organised by LIC Housing in Hyderabad. Over 50 builders have put up their stalls and there is also a facility for spot approvals. The loans are being offered at 10.25 per cent interest.

QIP issue

Meanwhile, Sharma said LIC Housing will be completing its proposed Qualified Institutional Placement (QIP) issue to raise up to Rs 1,200 crore before the end of March. The QIP issue got delayed on a variety of reasons including market volatility.

“We are also ready to apply for External Commercial Borrowings to mobilise up to Rs 700-1,000 crore,’’ he said.


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