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GIC Housing Finance Ltd. Company History and Annual Growth Details

YEAR EVENTS
1989 - GIC Housing Finance Limited (GICHF) was incorporated as 'GIC Grih
Vitta Limited' on 12th December. The Company was issued
Certificate for Commencement of Business dated 12th January,
1990. The Company was promoted by GIC and its subsidiaries.

- The primary business of GICHF is granting housing loans to
individuals and to persons engaged in construction of
houses/flats for residential purposes.

1994 - 50,00,000 No. of equity shares allotted to promoters. 50,00,001
No. of equity shares allotted on Rights basis in prop. 1:1.
80,00,000 No. of equity shares of Rs 10 each were issued at a
prem. of Rs 40 per share during Dec. 1994 through prospectus of
which 26,00,400 shares reserved and allotted to promoters. Of
the remaining 8,90,900 shares were allotted on a firm basis to
Indian Mutual Funds & another 8,600 shares to employees on
preferential basis (of these only 8,100 shares taken up).
Balance 45,00,100 shares along with 500 shares not taken up by
employees and public. Additional 4,900 shares allotted.

1996 - The Company untertook to set up a fully integrated
computerisation project facilitating interconnection of all the
service centres to head office and vice versa.

- The objects of the issue is to augment long term resources of the
company & strengthen equity base and to list the equity shares on
recognised Stock Exchange.

- Various schemes were introduced like GIC Apna Ghar Yojana, NRI
Housing Loans, Employees Housing Scheme, Housing
repair/renovation Scheme, Line of Credit through company, Line of
Credit to the company, Construction Finance Scheme.

2000 - Mr. H.P. Ranina, Director, resigned from the Board with effect from
September 28.

2004

-GIC Housing Finance Ltd has informed that the Company has appointed Sharepro Services as Share Transfer Agent of the Company w.e.f. March 01, 2004.

2007

-GIC Housing Finance Ltd has appointed Shri. M Sivaraman as a Managing Director w.e.f. October 24, 2007.
 
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