Shriram Finance zooms on executing master agreement with Axis Bank
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Shriram Finance is currently trading at Rs. 2938.60, up by 66.90 points or 2.33% from its previous closing of Rs. 2871.70 on the BSE.
The scrip opened at Rs. 2901.30 and has touched a high and low of Rs. 2971.00 and Rs. 2881.75 respectively. So far 10199 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3058.95 on 26-Jun-2024 and a 52 week low of Rs. 1759.20 on 16-Aug-2023.
Last one week high and low of the scrip stood at Rs. 2971.00 and Rs. 2809.35 respectively. The current market cap of the company is Rs. 110286.35 crore.
The promoters holding in the company stood at 25.41%, while Institutions and Non-Institutions held 69.52% and 5.07% respectively.
Shriram Finance has executed a Master Agreement on August 7, 2024 for extending financial assistance and / or credit facilities for LAP Loans and/or New Commercial Vehicle Loans to eligible borrowers under the scheme of co-lending by way of back-to-back assignments of loans/ loan portfolios in tranches with Axis Bank 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 Servicer and the collections/monitoring will be managed by the Company. The Bank shall also pay service charges to the company based on a pre-agreed formula subject to certain terms and conditions as set out in the Master Agreement.
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.
