Shriram Transport Finance Company has acquired 17% of total paid-up capital of a start-up Company Freight Commerce Solutions (FCSPL). The cost of acquisition or the price at which shares are acquired is Rs 6,99,86,574.
FCSPL provides an electronic platform and technology solution to various stakeholders in the logistics and transportation industry to manage freight transaction and other value added services.
Shriram Transport Finance is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC. The company was with an objective to provide hire purchase and lease finance for the medium and heavy commercial vehicles to individual truck operators.