GICHSGFIN

MUMBAI, Nov 21 (Reuters) - India's GIC Housing Finance GICH.NS has accepted bids worth 6 billion rupees ($71.05 million) through the sale of bonds maturing in 19 months and 21 months, three bankers said on Thursday.

It will pay an annual coupon of 8.25% and 8.28%, respectively, and had invited bids for the issue on Tuesday, they said.

The coupon rate will be increased by 25 basis points for every notch downgrade in the credit rating.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Nov. 21:

*Size includes base plus greenshoe for some issues

($1 = 84.4475 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Abinaya Vijayaraghavan
)

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MUMBAI, Nov 14 (Reuters) - India's GIC Housing Finance GICH.NS plans to raise 6 billion rupees ($71.11 million), which includes a greenshoe option of 1 billion rupees, through the sale of bonds maturing in 19 months and 21 months, three bankers said on Thursday.

It will pay an annual coupon of 8.25% and 8.28%, respectively, and has invited bids for the issue on Tuesday, they said.

The coupon rate shall be increased by 25 basis points for every notch downgrade in the credit rating.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Nov. 14:

*Size includes base plus greenshoe for some issues

($1 = 84.3770 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

(([email protected]))

Nov 8 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• SEPT-QUARTER CONSOL NET PROFIT 365.2 MILLION RUPEES

• SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 2.64 BILLION RUPEES

Source text: ID:nBSEb58GnM

Further company coverage: GICH.NS

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Sept 2 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• GIC HOUSING FINANCE - GOT TAX ORDER FOR PENALTY OF 3.4 MILLION RUPEES

Further company coverage: GICH.NS

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Adds share movement in paragraph 5 after Reuters report

By Manoj Kumar

NEW DELHI, July 3 (Reuters) - India plans to increase state subsidies on rural housing in the upcoming federal budget by as much as 50% from the previous year to more than $6.5 billion, after setbacks for the prime minister's party in elections, two government sources said.

The planned hike in housing subsidies is part of a broader government initiative to boost spending on rural infrastructure including village roads and a jobs programme to help millions of young people stuck in the agriculture sector amid limited manufacturing jobs.

If approved, it would mark the largest annual increase in federal spending on the rural housing programme since its inception in 2016.

"The government is worried over widespread rural economic distress, driven by higher food inflation and sluggish growth in farmers' incomes," said one of the government sources with knowledge of budget discussions.

Shares of Housing and Urban Development Corp HUDC.NS rose as much as 9% after the Reuters report, while Aadhar Housing Finance AADA.NS and GIC Housing Finance GICH.NS rose around 4.5%.

Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) is having to rely on allies to run the government for the first time in a decade, after the opposition did much better than expected in a bitterly fought national election that ended last month.

Under the PM Awas Yojna(Rural) housing scheme, the government aims to facilitate construction of an additional 20 million houses over the next few years, after providing aid for more than 26 million homes for poor households over the past eight years.

Finance Minister Nirmala Sitharaman is expected to announce details of plan during the budget presentation later this month.

"We expect a substantial increase in allocations for several rural schemes this year, including housing, roads and jobs programme," said the second government source, noting federal subsidies for rural housing could exceed 550 billion rupees ($6.58 billion), up from 320 billion rupees last fiscal year.

He said state spending on the rural jobs programme was expected to increase substantially from an earlier estimate of 860 billion rupees, but the government may seek parliament approval for this additional spending later, not as part of the budget.

He said a separate proposal for increasing spending on village roads was also under consideration, from earlier estimates of 120 billion rupees in the current fiscal year.

Both sources spoke on the condition of anonymity as they were not authorised to discuss budget proposals with the media.

During pre-budget consultations, economists and industry leaders urged the government to ramp up rural spending to stimulate consumer demand, noting that private consumption was growing at half the pace of nearly 8% annual economic growth.

The sources said to build 20 million houses for the poor in the rural areas, the federal and state governments are expected to allocate up to 4 trillion ($47.89 billion) over the next few years, with the federal government contributing around 2.63 trillion rupees.

A finance ministry spokeswomen didn't comment when asked about spending plans.

Last month, shortly after assuming office, Modi's cabinet announced plans to assist in the construction of 30 million houses in rural and urban areas, without disclosing financial details.

The Ministry of Rural Development has proposed increasing state subsidies to about 200,000 rupees ($2,395) per housing unit, up from 120,000 rupees previously, citing rising costs of raw materials, the second official said.

($1 = 83.5315 Indian rupees)

(Reporting by Manoj Kumar;Additional reporting by Aftab Ahmed; Editing by Kim Coghill)

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May 13 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• GIC HOUSING FINANCE MARCH-QUARTER CONSOL NET PROFIT 536.7 MILLION RUPEES VERSUS PROFIT 523.3 MILLION RUPEES

• GIC HOUSING FINANCE MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 2.6 BILLION RUPEES VERSUS 2.81 BILLION RUPEES

• DIVIDEND 4.5 RUPEES PER SHARE

• APPROVED LIMIT OF FUND RAISE VIA ISSUE OF NON-CONVERTIBLE DEBENTURES/BONDS UPTO 25 BLN RUPEES

Source text for Eikon: ID:nBSE1rgMjR

Further company coverage: GICH.NS

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April 4 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• TO CONSIDER AND APPROVE RAISING OF FUNDS

• TO CONSIDER RAISING OF FUNDS UPTO 25 BILLION RUPEES BY WAY OF ISSUE OF NCDS

Source text for Eikon: ID:nBSE1jcd9G

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Feb 5 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• GIC HOUSING FINANCE DEC-QUARTER CONSOL NET PROFIT 356.5 MILLION RUPEES VERSUS PROFIT 654.4 MILLION RUPEES

• GIC HOUSING FINANCE DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 2.61 BILLION RUPEES VERSUS 2.81 BILLION RUPEES

Further company coverage: GICH.NS

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Nov 3 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• INDIA'S GIC HOUSING FINANCE SEPT-QUARTER CONSOL NET PROFIT 301.9 MILLION RUPEES VERSUS 563.1 MILLION RUPEES

• GIC HOUSING FINANCE SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 2.68 BILLION RUPEES VERSUS 2.79 BILLION RUPEES

Source text for Eikon: ID:nBSE3q8mgf

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Sept 26 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• TO ISSUE REDEEMABLE NON-CONVERTIBLE DEBENTURES/BONDS ON PRIVATE PLACEMENT BASIS UPTO 25 BILLION RUPEES

Source text for Eikon: ID:nBSE30h4Rn

Further company coverage: GICH.NS

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Sept 1 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• SUCHITA GUPTA RESIGNED FROM BOARD DUE TO SUPERANNUATION AS CHAIRMAN CUM MANAGING DIRECTOR

Source text for Eikon: ID:nNSEFlQHG

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Aug 7 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• GIC HOUSING FINANCE LTD JUNE-QUARTER CONSOL NET PROFIT 318.4 MILLION RUPEES VERSUS 391.7 MILLION RUPEES

• GIC HOUSING FINANCE LTD JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 2.68 BILLION RUPEES VERSUS 2.74 BILLION RUPEES

• GIC HOUSING FINANCE LTD - APPROVED RAISING OF FUNDS VIA ISSUE OF REDEEMABLE NON-CONVERTIBLE DEBENTURES /BONDS FOR UPTO 25 BILLION RUPEES

• GIC HOUSING FINANCE - APPROVED RAISING OF FUNDS VIA ISSUE OF REDEEMABLE NON-CONVERTIBLE DEBENTURES /BONDS ON PRIVATE PLACEMENT BASIS

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July 11 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• TO CONSIDER RAISING OF FUNDS VIA ISSUE OF NCDS ON PRIVATE PLACEMENT BASIS UPTO 25 BILLION RUPEES

Source text for Eikon: ID:nBSE29pcVg

Further company coverage: GICH.NS

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May 17 (Reuters) - GIC Housing Finance Ltd GICH.NS:

• MARCH-QUARTER CONSOL NET PROFIT 523.3 MILLION RUPEES VERSUS 490 MILLION RUPEES

• MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 2.81 BILLION RUPEES VERSUS 2.88 BILLION RUPEES

• RECOMMENDED DIVIDEND OF 4.50 RUPEES PER SHR FOR FY 2022-23

Source text for Eikon: [ID:]

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