Shriram Transport Finance moves up on raising Rs 115 crore through NCDs
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Shriram Transport Finance Company is currently trading at Rs. 1256.00, up by 7.55 points or 0.60% from its previous closing of Rs. 1248.45 on the BSE.
The scrip opened at Rs. 1254.00 and has touched a high and low of Rs. 1258.20 and Rs. 1245.05 respectively. So far 6718 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1696.15 on 09-Nov-2021 and a 52 week low of Rs. 1002.50 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 1258.20 and Rs. 1185.35 respectively. The current market cap of the company is Rs. 33813.61 crore.
The promoters holding in the company stood at 29.37%, while Institutions and Non-Institutions held 65.16% and 5.47% respectively.
Shriram Transport Finance Company has raised Rs 115 crore through allotment of Listed, Rated, Subordinated, Unsecured, Non-Convertible Debentures (NCDs), as Subordinated Debt for inclusion as Tier II Capital on Private placement basis for an issue size of Rs 100 crore plus greenshoe option of Rs 25 crore.
The proceeds of the issue will be used for augmenting the Tier II Capital of the Company and 100% of the proceeds thereof will be utilized in accordance with statutory and regulatory requirements (including requirements of RBI) and 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.
