GIC Housing Finance on Tuesday said it has raised Rs 195 crore through issuance of Non-Convertible Debentures (NCDs) to Aditya Birla Sun Life Mutual Fund on a private placement basis.

"According to the authority accorded by our board, 1,950 numbers of NCDs, having a face value of Rs 10,00,000 each at par for an aggregate amount of Rs 195 crore, issued on private placement basis," GIC Housing Finance said in a regulatory filing.

The NCDs have been allotted to Aditya Birla Sun Life Mutual Fund and carry an interest rate of 6.94 per cent per annum.
GIC Housing Finance said the NCDs are proposed to be listed on BSE.

Shares of GIC Housing Finance were trading 1.21 per cent higher at Rs 117.15 apiece on BSE.