Shriram Transport Finance Company has received approval to raise fund through Rights Issue of equity shares of face value of Rs 10 each for an amount not exceeding Rs 1,500 crore. The Issue Price is Rs 570 per fully paid-up rights equity share (including a premium of Rs 560 per rights equity share). The full amount of the Issue Price being Rs 570 per rights equity share will be payable on application.
The Securities Issuance Committee in its meeting held on July 06, 2020 has approved the same.
Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.
