LIC Housing Finance will convene its 37th Annual General Meeting (AGM) on Friday, August 28, 2026, to secure shareholder authorization for a significant capital raising measure. The primary objective of the meeting is to pass a special resolution allowing the Board to issue Redeemable Non-Convertible Debentures (NCDs) or other Tier II capital instruments worth up to ₹55,000 crore on a private placement basis. This authority is critical for the housing finance company’s liquidity management and long-term funding strategy, enabling it to raise debt capital efficiently within the regulatory framework set by the Reserve Bank of India (RBI). The meeting will also address the declaration of a final dividend of ₹10 per equity share for the financial year ended March 31, 2026, and the re-appointment of Director P Koteswara Rao, who retires by rotation.

The proposed NCD issuance limit of ₹55,000 crore is subject to the existing overall borrowing powers approved by shareholders at the 30th AGM in 2019, which capped total borrowings at ₹4,00,000 crore. As of June 30, 2025, approximately ₹1,29,000 crore of this borrowing limit remains available. The new authority will remain valid until the earlier of the 38th AGM for FY27 or the exhaustion of the ₹55,000 crore limit. The Board emphasized that none of the directors or key managerial personnel have any financial interest in this resolution. The meeting will be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM) in compliance with Ministry of Corporate Affairs (MCA) circulars, with proceedings deemed held at the company’s registered office in Mumbai.

Key Agenda Items and Shareholder Actions

Shareholders holding shares as of the cut-off date of Friday, August 21, 2026, are eligible to vote and receive dividends. The remote e-voting window opens on Tuesday, August 25, 2026, at 9:00 a.m. IST and closes on Thursday, August 27, 2026, at 5:00 p.m. IST. Voting rights are proportional to shareholding on the cut-off date. Once cast, votes cannot be modified. For those attending the virtual meeting, access is restricted to 1,000 participants on a first-come, first-served basis, though large shareholders (holding 2% or more), promoters, and institutional investors are exempt from this cap.

The final dividend of ₹10 per share will be paid between September 17, 2026, and September 27, 2026, subject to Tax Deducted at Source (TDS). Resident members with valid PANs will face a TDS rate of 10%, while non-residents are subject to a 20% withholding tax unless a beneficial Double Tax Avoidance Agreement (DTAA) applies. Shareholders must update their bank mandates and KYC details with their Depository Participants (DPs) or the Registrar and Transfer Agent (RTA), MUFG Intime India Private Limited, to ensure timely receipt of dividends. Physical shareholders must submit Form ISR-1 and related documents by August 12, 2026.

What the Numbers Show

The request for a ₹55,000 crore NCD issuance limit underscores the company’s reliance on long-term debt funding to support its asset growth trajectory. With ₹1,29,000 crore of existing borrowing headroom remaining under the broader ₹4,00,000 crore cap, this specific authorization provides operational flexibility for near-term fundraising without requiring fresh shareholder approval for each tranche. The declaration of a ₹10 per share dividend signals continued profitability and cash flow generation in FY26, rewarding investors despite the high leverage typical of the housing finance sector. The re-appointment of P Koteswara Rao, a Fellow Member of ICAI with extensive experience in credit appraisal and investment management, ensures continuity in board expertise crucial for navigating complex financial regulations.

lic housing finance has appointed Varsha Hardasani as the Company Secretary of its subsidiary, LICHFL Care Homes Limited, with effect from August 1, 2026. The appointment serves as an additional charge for Hardasani, who is nominated by the Board of LIC Housing Finance Limited. This structural adjustment ensures continued compliance oversight within the group’s healthcare vertical without requiring a separate external hire.

The Board of LICHFL Care Homes Limited approved the appointment based on the nomination from the parent company’s Board. The move aligns with standard corporate governance practices for managing shared services across group entities. The filing was submitted to both the National Stock Exchange of India Ltd. and BSE Limited to inform market participants of the change in key managerial personnel at the subsidiary level.

Regulatory Framework

The appointment adheres to specific statutory requirements under Indian corporate law. Key regulatory references include:

• Section 203 of the Companies Act, 2013
• Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
• Other applicable provisions governing managerial personnel appointments

These regulations mandate that the appointment of a Company Secretary must follow due process, including board approval and compliance with eligibility criteria defined in the rules. The designation as an "additional charge" indicates that Hardasani retains her primary responsibilities while overseeing compliance for the subsidiary.

Appointment Details

The following table outlines the specifics of the new appointment:

Hardasani, who serves as the Company Secretary and Compliance Officer for LIC Housing Finance Limited, will now also handle the statutory duties for LICHFL Care Homes Limited. This dual role allows for integrated compliance management across the two entities.

What This Means for Stakeholders

The appointment does not alter the operational strategy or financial structure of LICHFL Care Homes Limited. Instead, it reinforces the governance framework by ensuring that a qualified professional manages statutory filings and regulatory communications for the subsidiary. Shareholders and investors are advised that this is an administrative change aimed at streamlining corporate governance rather than a strategic shift in business operations. The continuity in leadership helps maintain stability in compliance reporting for the group’s healthcare segment.