GIC Housing Finance said that it is going to acquire up to 16 percent stake for Rs 22.68 crore in the LIC Nomura Mutual Fund Asset Management Company.

GIC Housing Finance Ltd said in a regulatory filing that “the Board of Directors approve the proposal to acquire up to 16 percent 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.”

It further added that the board has also approved buying up to 16 percent in the paid up equity share capital of LIC Nomura Mutual Fund Trustee Company for a consideration not exceeding Rs 1.26 lakh.

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