New Delhi : GIC Housing Finance said it will acquire up to 16% stake in LIC Nomura Mutual Fund Asset Management Company for Rs 22.68 crore. Meanwhile, a similar stake will be bought by the company in LIC Nomura Mutual Fund Trustee Company for Rs 1.26 lakh.
“The Board of Directors approve the proposal to acquire up to 16% in the paid up equity share capital of LIC Nomura Mutual Fund Asset Management Company Ltd for a consideration not exceeding Rs 2,268 lakh,” GIC Housing Finance Ltd said in a regulatory filing. The board also approved buying up to 16% in the paid up equity share capital of LIC Nomura Mutual Fund Trustee Company for a consideration not exceeding Rs 1.26 lakh. LIC of India holds a 49% stake and LIC Housing Finance holds a 16% stake in LIC Nomura Mutual Fund Trustee Co.
