GIC Housing seeks shareholder approval to raise Rs 2,500 cr in Sept

20 Aug 2021 CW Team

On Wednesday, GIC Housing Finance Ltd told the media that it would seek approval from the shareholders to boost up to Rs 2,500 crore in debt capital during its AGM in the following month.

The firm's next annual general meeting (AGM) is to be conducted on September 27.

In a regulatory filing, GIC Housing Finance said that shareholders' nod is being sought in the aforesaid 31st AGM of the firm for fundraising through an issue of redeemable non-convertible debentures/bonds on a private placement basis up to aggregate the limit of Rs 2,500 crore.

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

Additionally, the firm said that the AGM would also decide on the dividend to be paid by the firm. The dividend would be paid (if accepted at AGM) on or after October 7, 2021.

On Wednesday, shares of GIC Housing dropped 2.23% to close at Rs 140.45 apiece on the BSE. GIC Housing Finance Ltd is a subsidiary of General Insurance Corporation of India. The firm is involved in housing finance activity.

Image Source

Also read: PNB Housing Finance to raise Rs 35k cr after issues in Carlyle deal

Infrastructure Transport

04 Nov 2025

Madhya Pradesh Launches PM Shri Tourism Helicopter Service

Madhya Pradesh has achieved a national first by launching the PM Shri Tourism Helicopter Service, establishing India’s first intra-state air connectivity. Chief Minister Dr Mohan Yadav inaugurated the service at Raja Bhoj International Airport, Bhopal, marking a significant step towards transforming the state’s tourism infrastructure. Following the launch, four helicopters departed for Ujjain, symbolising the start of regional air tourism. The initiative, led by the Madhya Pradesh Tourism Board, will operate under a Public-Private Partnership (PPP) model, connecting the state’s key reli..

Garuda Aerospace CEO Honoured by Tamil Nadu Governor

Chennai, 3 November 2025: Agnishwar Jayaprakash, Founder and Chief Executive Officer of Garuda Aerospace, was felicitated by Tamil Nadu Governor Thiru R.N. Ravi for his exceptional contribution to India’s drone technology ecosystem. The recognition was presented during the Foundation Day celebrations of several States and Union Territories at Bharathiar Mandapam, Raj Bhavan, in Chennai. The honour acknowledges Jayaprakash’s leadership in strengthening the country’s unmanned aerial vehicle (UAV) capabilities and his efforts in harnessing technology for social good. He was also recognised..

Hindustan Zinc’s EcoZen Delivers 75 per cent Lower Carbon Emissions

Udaipur, 3 November 2025: Hindustan Zinc, the world’s largest integrated zinc producer and among the top five global silver producers, has reinforced its sustainability leadership with EcoZen, Asia’s first low-carbon zinc brand. The innovation achieves over 75 per cent lower carbon intensity than conventional zinc, setting new standards in green manufacturing and industrial decarbonisation. Produced using renewable energy and certified under REACH standards, EcoZen helps avoid an estimated 400 kg of carbon emissions for every tonne of steel galvanised. It supports India’s Viksit Bharat ..