<p>Mumbai: India saw the listing of its first residential mortgage-backed securities sold through the bidding route on Monday.</p>.<p>The housing finance regulator expects firms to raise 100 billion rupees to 200 billion rupees ($1.2 billion to $2.4 billion) through these instruments in the current financial year.</p>.<p>The funds would be raised across seven to 10 transactions over the year, National Housing Bank Managing Director Sanjay Shukla said in Mumbai.</p>.<p>Residential mortgage-backed securities, securities with residential mortgages as the underlying asset, are common across global markets.</p>.Automobile retail sales up 2.95% in April: FADA.<p>Non-bank financier LIC Housing Finance last week raised 10 billion rupees through 20-year securities at a coupon of 7.26 per cent, payable on a monthly basis. It listed these on the National Stock Exchange of India on Monday.</p>.<p>In March, the National Housing Bank set up a firm to facilitate the development of the residential mortgage-backed securities market by providing opportunities to long-term investors like insurers, pension and provident funds.</p>.<p>For LIC Housing Finance's issue, a special purpose vehicle India Residential Mortgage Trust 2025 01 issued pass-through certificates backed by a housing loan receivables pool of 11.12 billion rupees originated by the financier.</p>.<p>The notes are rated AAA (SO) by CRISIL and CARE.</p>.<p>The successful placement of LIC Housing's securities will help other housing finance companies to issue similar ones, said Venkatakrishnan Srinivasan, founder and managing partner at debt advisory firm Rockfort Fincap.</p>
<p>Mumbai: India saw the listing of its first residential mortgage-backed securities sold through the bidding route on Monday.</p>.<p>The housing finance regulator expects firms to raise 100 billion rupees to 200 billion rupees ($1.2 billion to $2.4 billion) through these instruments in the current financial year.</p>.<p>The funds would be raised across seven to 10 transactions over the year, National Housing Bank Managing Director Sanjay Shukla said in Mumbai.</p>.<p>Residential mortgage-backed securities, securities with residential mortgages as the underlying asset, are common across global markets.</p>.Automobile retail sales up 2.95% in April: FADA.<p>Non-bank financier LIC Housing Finance last week raised 10 billion rupees through 20-year securities at a coupon of 7.26 per cent, payable on a monthly basis. It listed these on the National Stock Exchange of India on Monday.</p>.<p>In March, the National Housing Bank set up a firm to facilitate the development of the residential mortgage-backed securities market by providing opportunities to long-term investors like insurers, pension and provident funds.</p>.<p>For LIC Housing Finance's issue, a special purpose vehicle India Residential Mortgage Trust 2025 01 issued pass-through certificates backed by a housing loan receivables pool of 11.12 billion rupees originated by the financier.</p>.<p>The notes are rated AAA (SO) by CRISIL and CARE.</p>.<p>The successful placement of LIC Housing's securities will help other housing finance companies to issue similar ones, said Venkatakrishnan Srinivasan, founder and managing partner at debt advisory firm Rockfort Fincap.</p>