Shriram Finance moves up on executing Master Agreement with SIDBI
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Shriram Finance is currently trading at Rs. 2041.95, up by 8.30 points or 0.41% from its previous closing of Rs. 2033.65 on the BSE.
The scrip opened at Rs. 2052.15 and has touched a high and low of Rs. 2057.00 and Rs. 2034.15 respectively. So far 3386 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2114.95 on 05-Dec-2023 and a 52 week low of Rs. 1190.00 on 28-Feb-2023.
Last one week high and low of the scrip stood at Rs. 2114.95 and Rs. 2007.15 respectively. The current market cap of the company is Rs. 76372.01 crore.
The promoters holding in the company stood at 25.45%, while Institutions and Non-Institutions held 69.84% and 4.71% respectively.
Shriram Finance has executed a Master Agreement for co-lending of loans to Micro, Small and Medium Enterprises (MSMEs) Borrowers under the scheme of co-lending by way of back-to-back assignments of loans/ loan portfolios in tranches with Small Industries Development Bank of India (SIDBI) in accordance with Guidelines issued by the Reserve Bank of India in this regard.
The risk sharing ratio of the loan shall be as per the Master Agreement. The Company shall also act as the Service Provider and the collections/monitoring will be managed by the company. SIDBI shall also pay certain service charges to Company based on a pre-agreed formula and subject to certain terms and conditions.
Shriram Finance (Formerly Shriram Transport Finance Company) is one of the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets.
