Shriram Finance Ltd.

Shriram Transport Finance Company is currently trading at Rs. 690.05, up by 10.85 points or 1.60% from its previous closing of Rs. 679.20 on the BSE.

The scrip opened at Rs. 683.00 and has touched a high and low of Rs. 693.30 and Rs. 680.00 respectively. So far 5598 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. 535.65 on 20-Jul-2012.

Last one week high and low of the scrip stood at Rs. 731.80 and Rs. 666.60 respectively. The current market cap of the company is Rs. 15728.48 crore.

The promoters holding in the company stood at 25.79% while Institutions and Non-Institutions held 54.51% and 19.71% respectively.

Shriram Transport Finance Company is planning to mop-up Rs 2,000 crore through issue of Non Convertible Debentures (NCD). The public issues of the NCD will be through one or more tranches during the current fiscal. The first tranche of the NCD, about Rs 375 crore, will be opened during the third week of July.

The company will use the raised fund for expansion of business, repayment of loan and for other business operations. The company, which is one of the largest asset financier, increased its Assets Under Management to Rs 49,676 crore as on March 31, 2013 from Rs 40,213 crore, a year ago.

Shriram Transport Finance is the 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.