Jan 12, 2012, 06.52 PM IST | Source: Moneycontrol.com

LICHFL Asset Management plans to raise Rs 500 cr

LICHFL asset management company, a subsidiary of LIC Housing Finance plans to raise Rs 500 crore of capital for its first fund christened as LICHFL Urban Development Fund.

LICHFL Asset Management plans to raise Rs 500 cr
Moneycontrol Bureau

LICHFL asset management company, a subsidiary of LIC Housing Finance plans to raise Rs 500 crore of capital for its first fund christened as LICHFL Urban Development Fund.

The fund will make investments in companies involved in development of mid income affordable housing, income yielding micro infrastructure assets including Industrial & IT Parks, SEZ, other allied segments through equity & equity-related instruments, said a release issued by the company.

Looking at the increasing need for equity for successful financial closure of projects, the LIC Group has ventured into the private equity space with its maiden offering, the LICHFL Urban Development Fund.  Our AMC arm intends to follow with a series of other funds to cater the needs of increasing urbanization in the fast growing economy, said AK Sharma, Chief Executive Officer, LICHFL AMC.

The fund aims to achieve balanced returns by inbvesting in a diversified portfolio, both geographically and by asset class.  It will invest with known promoters with good track record and will create incentive for JV partners by linking part of the profit share with performance, thereby aligning interest with investors. Investments will be in locations which have identified drivers of economic growth and adequate depth by way of demand.

saikat.das@network18online.com

LIC Housing Fin stock price

On April 17, 2014, LIC Housing Finance closed at Rs 269.45, up Rs 6.95, or 2.65 percent. The 52-week high of the share was Rs 280.50 and the 52-week low was Rs 152.00.


The company's trailing 12-month (TTM) EPS was at Rs 25.03 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 10.77. The latest book value of the company is Rs 128.43 per share. At current value, the price-to-book value of the company is 2.10.

Set email alert for

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Rahul Gandhi

575 -1.23 -0.21%

6909

Bought today

24709

Sold today

0.05%

User holding

video of the day

Chandra says satisfied with TCS' FY14, FY15 to be better

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.