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LIC Housing Finance raising up to $136 mn in QIP

LIC Housing Finance is raising up to $136 million through a share sale to institutional investors at a discount of 1.9 to 3.4 percent to its Tuesday closing price, according to a person with direct knowledge of the deal.

The company was selling 10 million shares in a qualified institutional placement (QIP) offering at 650 to 660 rupees each in a deal handled by Citigroup, Enam Securities, Kotak Securities, and Nomura, the person said. LIC Housing shares rose 1.92 percent on Tuesday to close at 673 rupees.

The deal was set to be completed before the start of trading on Wednesday. (ET)

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