GIC Housing Finance Receives Approval for NCD Issuance of ₹2,500

GIC Housing Finance Limited,  on August 19, 2025, said that its shareholders have cleared a proposal to raise funds through redeemable non-convertible debentures (NCDs). The approval allows the company to issue up to ₹2,500 crore worth of NCDs through private placement.

The Annual General Meeting (AGM) also approved material related-party transactions with promoter group companies. These transactions can go up to a limit of ₹1,000 crore.

Several Board Resolutions

Several board-related matters were taken up at the AGM. Shareholders approved the reappointment of BS Rahul and Girija Subramanian as non-executive directors. Damodharan Neelam was reappointed as an independent director. The appointment of Sanjay Joshi as a non-executive director was also cleared.

Cybersecurity Incident in June

As per reports, in June this year, the company reported a cybersecurity issue. On June 19, 2024, its cybersecurity team detected a malware attack affecting some end-user systems. The affected systems were isolated immediately to contain the incident.

The company said that no operational disruption has been observed so far. A detailed investigation is underway with external stakeholders to identify the cause and recommend remedial actions.

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GIC Housing Finance Share Price 

As of August 20, 2025, 9:54 AM, GIC Housing Finance share price is trading at ₹179.81, a 1.92% increase from the previous closing price.

Conclusion

With shareholder approvals in place, GIC Housing Finance can raise up to ₹2,500 crore through NCDs. The company also continues to address the cybersecurity matter while maintaining routine operations.

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