GIC Housing Finance Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 19, 2025
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GIC Housing Finance held its 35th AGM on August 19, 2025 via video conferencing, attended by 63 members and all 11 directors. The meeting covered 10 agenda items, including adoption of audited financial statements for FY25, declaration of dividend, re-appointment of two directors (B.S. Rahul and Girija Subramanian), appointment of new directors (Sanjay Joshi) and re-appointment of an independent director (N. Damodharan). A new statutory auditor, M/s. Gokhale & Sathe, was approved for a 3-year term, replacing M/s. Chandabhoy & Jassoobhoy. Audit reports for FY25 contained no qualifications or adverse remarks. Two key special resolutions were approved: material related party transactions with promoter companies up to ₹1,000 crore, and private placement of redeemable non-convertible debentures/bonds up to ₹2,500 crore.
The ₹2,500 crore NCD borrowing limit and ₹1,000 crore related party transaction approval give the company flexibility to raise funds and transact with promoter group entities. The dividend declaration and clean audit report are positive signals for shareholders. The auditor change is routine and not unusual.