GIC Housing Finance Ltd announced the cessation of Smt. Rani Singh Nair as an Independent Director on September 25, 2026. Her departure follows the completion of her second three-year term with the housing finance company.

The event occurred at close of business hours on September 25, 2026. Smt. Nair had served for a second term spanning from September 26, 2023, to September 25, 2026. Consequently, she also ceases to be a member or chairperson of any Board level Committees effective this date.

Disclosure details

The company filed this disclosure under Regulation 30 and 51 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The filing references SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The company placed on record its appreciation for the contribution made by Smt. Rani Singh Nair during her tenure as an Independent Director. The disclosure was signed by Raj Gor, Group Head and Company Secretary.

GIC Housing Finance Ltd issued secured non-convertible debentures worth ₹200 crore through a private placement on September 22, 2026. The instrument carries an annual coupon rate of 8.15% and has a tenure of 1,178 days.

The issuance comprises 20,000 securities valued at ₹1,00,000 each. The size includes a green shoe option of up to ₹100 crore. These debentures are listed on BSE Limited and are rated, redeemable, taxable, and secured.

Issue Structure and Terms

The allotment date for the Series 12 Tranche 2 is September 28, 2026, with maturity scheduled for December 19, 2029. Interest payments will be made annually, starting December 19, 2026. The principal amount will be redeemed on the maturity date.

Security and Default Provisions

The debentures are secured by a first-ranking exclusive continuing charge on hypothecated assets in favor of the debenture trustee. In the event of default in payment of interest or principal, the company must pay additional interest at 2% per annum over the coupon rate until the default is rectified. No special rights or privileges are attached to these instruments.

What the Numbers Show

The base issue size of ₹200 crore includes a green shoe option of up to ₹100 crore, meaning the total potential raise could reach ₹300 crore if fully exercised. This structure provides flexibility to meet varying levels of investor demand without reopening the book.