LIC Housing Finance Limited has informed the Exchange regarding Appointment of Mr Ratnakar Patnaik as Non- Executive Director of the company w.e.f. Jun 13, 2025.
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LIC Housing Finance Limited has appointed Mr. Ratnakar Patnaik (DIN 10283908) as an Additional Non-Executive (Nominee) Director on its board with effect from June 13, 2025. Mr. Patnaik is currently the Managing Director of LIC of India, the promoter of LIC HFL, having taken charge on June 1, 2025. He has over 34 years of experience at LIC, including roles as Executive Director (Investment-Front Office) and Chief Investment Officer. The appointment is liable to retire by rotation and is subject to shareholder approval within three months.
This is a routine nominee director appointment by the promoter (LIC of India), bringing the LIC MD onto the board of its housing finance subsidiary. It strengthens promoter representation but is unlikely to have any material impact on the stock price or operations.