lIC Housing Finance ltd (lIC HFl) will acquire 19.3 per cent shares of lIC Nomura Mutual Fund Asset Management Company for Rs27 crore. Besides, it will also buy a stake of similar percentage in lIC Nomura Fund Trustee Company Pvt for about Rs1.5 lakh. Both the decisions were taken at the company's Board of Directors meeting held on Tuesday.
“The Board of Directors approves the proposal to acquire up to 19.3 per cent in the paid-up equity share capital of lIC Nomura Mutual Fund Asset Management Company ltd for a consideration not exceeding Rs2,736 lakh. And up to 19.3 per cent in the paid-up equity share capital of lIC Nomura Mutual Fund Trustee Company for a consideration not exceeding Rs1.52 lakh,” it said in regulatory filing. The lIC HFl stock closed at Rs470.85 on BSE, down 0.45 per cent.