GIC Housing Finance to raise Rs 200 crore

KOLKATA: GIC Housing Finance is planning to raise Rs 200 crore in bonds to support its business growth.

This company said it will issue non convertible debentures to raise the fund. "We will hit the market soon to take advantage of the falling bond yield," a senior company official told ET.

It has announced the bond sale on Tuesday, after Reserve Bank of India kept its benchmark repo rate unchanged.

Promoted by General Insurance Corporation of India 25 years back, the housing finance company is growing at 25% a year and has built Rs 6000 crore of outstanding loan books.

Its share price was 0.60% down to Rs 182 on BSE at 12.30 pm Tuesday.