Shriram City Union Finance has acquired over 4.44 crore shares of its housing finance subsidiary for Rs 200 crore. The company has subscribed 4,44,44,445 number of equity shares of face value of Rs 10 each priced at Rs 45 per share, aggregating to Rs 2,00,00,00,025 in Rights Issue offered by Shriram Housing Finance (SHFL), subsidiary of the Company.
After allotment of shares by SHFL in response to this subscription, the company's holding in SHFL will be 81.61 per cent of the equity capital.
Shriram City Union Finance is India’s premier financial services company specializing in small-ticket retail finance.
