Saraf and Partners acted for (i) LIC Housing Finance Limited and (ii) IDBI Trusteeship Services Limited in relation to the issuance of non-convertible debentures aggregating to INR 50,000 Crore (USD 6.008 Billion)

New Delhi, India, April 22, 2024: We are pleased to share that Saraf and Partners acted as the sole deal counsel to (i) LIC Housing Finance Limitedand (ii) IDBI Trusteeship Services Limited in relation to the issuance of non-convertible debentures aggregating to INR 50,000,00,00,000 by LIC Housing Finance Limited on a private placement basis under the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (“NCS Regulations”), and the Master Circular for Issue and Listing of Non-Convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper dated 10th of August, 2021.

The Firm provided key support to 𝐋𝐈𝐂 𝐇𝐨𝐮𝐬𝐢𝐧𝐠 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 and IDBI 𝐓𝐫𝐮𝐬𝐭𝐞𝐞𝐬𝐡𝐢𝐩 Services 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 in terms of managing the transaction, issue process and on various aspects of Indian Law.

Saraf and Partners team was led by Abir Lal Dey (Partner).