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LIC Housing Finance Ltd. Company History and Annual Growth Details

1989

- The Company was incorporated on 19th June as a public limited
company. It was promoted by LIC of India. The Company provide housing
loans to individuals, builders, development authorities, employers
organisation etc.

- The Company has started various schemes: Griha Prakash a general
scheme, Griha Tara under which it accepts only Bima Sandesh Plan as
Life Insurance Corporation, Griha Shobha for NRIs and Griha Lakshmi for
people to have a second house.

1994

- 3,00,57,900 No. of equity shares were issued at a premium of Rs 50
per share through public issue on 15th November 1994. The allotment
was as follows; 10,82,000 shares to LIC on firm allotment basis and the
balance 189,75,900 shares to public (all were taken up).

1996

- The Company has decided to carry out fund based and one-fund based
activities, viz., debt securitisation, lease and hire purchase, renting
of properties and giving guarantee to co-operate bodies.

2000

- Crisil has assigned a AAA rating to the issue of mortgage backed pass
through certificate backed by mortgages orginated by the company.

2001

- The Company has launched its new scheme, 'Griha Vikas'.

2002

-LIC Housing Finance Ltd has informed BSE that the Company has forfeited 1,25,300 equity shares due to non payment of allotment/call monies.

-LIC Housing Finance has approved for the take over of Individual Housing loan portfolio
of GLFL Housing Finance.

-Around 25 investors subscribed to the issue of confidentially placed debentures for a total
amount of Rs.392 cr of LIC Housing Finance Ltd.

-LIC Housing Finance Ltd has decreased its interest rates on housing loans by 25-50 basis
points.

-Financial Institutions have increased their stake from 0.01% to 1.96% and Mutual Fund
companies have increased their stake from 0.35% to 1.06% in LIC Housing Finance.

-LIC Housing Finance Ltd has decreased the floating rate of interest under individual loan
scheme to 9.5% from 11%.

-LIC Housing Financee signed a deed of assignment to take over individual housing loan
portfolio of Citibank N A.

-UTI and IFCI has been removed from the list of promoters of LIC Housing Finance.

2003

-LIC Housing Finance has unveiled a new project for elderly people called 'LIC HFL Care
Homes' .

-LIC Housing Finance Ltd has sanctioned 84,126 loans worth Rs.3265.78cr and disbursed
76,663 loans worth Rs.2941.24cr under its Individual Loan Scheme.

-LICHFL has mobilised Rs.280cr for 15 years at 7% rate of interest through private placement.

-Lic Housing Finance Ltd has informed that the shares of the company have been delisted from The Stock Exchange - Ahmedabad w.e.f December 08, 2003.

2004
-Merill Lynch Capitat acquires LIC housing stake of 0.39%

-Templeton Asset Management buys 37,52,362 equity shares, representing 5.01% of LIC Housing's total paid-up capital of Rs 74.9 crore

-LIC Housing Finance Ltd has informed that the shares of the Company has been voluntarily delisted from the Delhi Stock Exchange (DSE) w.e.f. January 23, 2004.

-LIC Housing Finance shares delisted from Madras Stock Exchange

-Mr D Krishnan appointed as Chief Executive Officer

- LIC Housing Finance Ltd's (LICHFL) one-crore global depository receipts (GDR) issue opened on August 27.

- Lists its maiden global offerings worth $29.85 million at the Luxembourg Stock Exchange successfully.

-Introduces new product that starts as a fixed rate loan but contains an option to convert it to a floating rate loan at the end of five years, at the then prevailing rate.

2005

-Delist from The Calcutta Stock Exchange Association Ltd (CSE) with effect from December 09, 2004.

-LIC Housing Finance launches loan product that eliminates the requirement of charge on house financed.

-Goldman Sachs acquires share in LICHF

2007

-LIC Housing Finance to launch FD scheme

-LIC Housing Finance to enter into reverse mortgage product

2008

LIC Housing Finance Ltd has informed that the Board has appointed the following persons as Directors on the Board of the Company on May 20, 2008:

- Name of the Director : Shri. D K Mehrotra
For the Position of : Managing Director
Change effective from : May 20, 2008.

- LIC Housing Finance Ltd has informed that the Board of Directors of the Company has appointed following person as Director on the Board of the Company on July 01, 2008.

- Name of the Director : Shri A S Narayanamoorthy

- For the position of : Additional Director

- Change effective from : July 02, 2008

-LIC Housing Finance launches Reverse Mortgage for senior citizens

2009

- LIC Housing Finance cut interest rates for new loans by 0.5% where for customers opting for floating rate loans between Rs 30 lakh and Rs 75 lakh, the new rates will be 8.755 against 9.25%.
 
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