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Shriram City Union Finance to raise Rs 1,000 crore from institutional investors

10 May 2013 Evaluate

Shriram City Union Finance, the retail lending arm of Shriram Group, is planning to raise Rs 1,000 crore by selling shares to institutional investors. The company plans to utilize these funds for meeting the capital expenditure needs and for repayment of loans, among other things. The non-banking finance company is planning to raise the funds in one or two tranches, including options like qualified institutional placement, bonds, debentures or foreign currency convertible bonds.

Further, the company has also upped its foreign institutional limit to 74% of the paid up capital. As of March 2013, the company's promoters owned 57.31%, while FII owned 25.2% in the company.

Shriram City Union Finance has presence in the following business segments - loan Against Gold (LAG), Small Business Finance Loans (SBF), Auto Loans, 2-Wheeler loans, Personal Loans and Consumer Durables Loans.

Shriram City Union Share Price

1923.55 0.00 (0.00%)
28-Nov-2022 18:01 View Price Chart
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