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Shriram Transport gains on plan to raise Rs 500 crore via NCDs

13 Sep 2013 Evaluate

Shriram Transport Finance Company is currently trading at Rs 556.15, up by 3.25 points or 0.59% from its previous closing of Rs 552.90 on the BSE.

The scrip opened at Rs 547.00 and has touched a high and low of Rs 565.00 and Rs 545.00 respectively. So far 13970 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 841.80 on 28-May-2013 and a 52 week low of Rs 465.20 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs 577.90 and Rs 500.00 respectively. The current market cap of the company is Rs 12458.13 crore.

The promoters holding in the company stood at 25.79% while Institutions and Non-Institutions held 55.07% and 19.14% respectively.

In a bid to support financing activities, non-banking finance company Shriram Transport Finance is planning to raise around Rs 500 crore through non convertible debentures (NCDs). In this regard, the company has filed a draft offer document for public issue of secured redeemable NCDs of face value of Rs 1,000 each, NCDs aggregating up to Rs 250 crore with an option to retain over-subscription up to Rs 250 crore for issuance of additional NCDs aggregating to a total of up to Rs 500 crore.

The proceeds from the issue will be used for financing activities including lending and investments. The company will also use the fund for repaying existing loans and for business operations including capital expenditure and working capital requirements.

The lead managers of the issue are JM Financial Institutional Securities and A K Capital Services, while Integrated Enterprises (India) is the registrar.

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.

Shriram Finance Share Price

1036.50 14.05 (1.37%)
17-Apr-2026 16:59 View Price Chart
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