Shriram Transport Finance gains on raising Rs 3200 crore via NCDs
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Shriram Transport Finance Company is currently trading at Rs. 1434.15, up by 13.65 points or 0.96% from its previous closing of Rs. 1420.50 on the BSE.
The scrip opened at Rs. 1438.00 and has touched a high and low of Rs. 1443.60 and Rs. 1416.65 respectively. So far 13069 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1534.90 on 15-Feb-2021 and a 52 week low of Rs. 487.16 on 07-Apr-2020.
Last one week high and low of the scrip stood at Rs. 1471.00 and Rs. 1352.10 respectively. The current market cap of the company is Rs. 36516.78 crore.
The promoters holding in the company stood at 26.48%, while Institutions and Non-Institutions held 67.16% and 6.36% respectively.
Shriram Transport Finance Company has raised Rs 3200 crore by issuing bonds on private placement basis. The allotment committee of the company in its meeting held on March 30, 2021, has approved and allotted Senior, Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) on Private placement basis for an issue size of Rs 3200 crore. The Proceeds of the issue will be utilized for financing of commercial vehicles, refinancing of existing debt and other general purposes of the company.
Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.
