Shriram Transport Board Plans Fund Raising

NBFC announced on Tuesday that its board would consider raising funds by issuing redeemable non-convertible debt securities including bonds in the onshore/offshore market via private placement and/or public offering.

In this regard, the meeting of the Banking and Finance Committee, the Debt Issuance Committee and the Allocation Committee of the company will be held to consider and approve the issuance and allocation of non-reimbursable debt securities/bonds. convertible during the month ending July 30, 2022.

Shriram Transport Finance Company, the flagship company of the Shriram Group, is the largest asset finance NBFC in the country. It is a holistic finance provider for the commercial vehicle industry and seeks to partner with small truck owners for all possible needs related to their assets. It is present in PAN India with 1,854 branches. Based in Mumbai, it has a live clientele of approx. 21.1 lakes.

The company’s standalone net profit increased by 43.87% to Rs 1,086.13 crore on a 13.11% increase in total revenue to Rs 5,087.59 crore in Q4 FY22 compared to Q4 FY21.

Shares of Shriram Transport Finance Company rose 0.36% to Rs 1,256.15 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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