Shriram transport finance: Shriram Transport Finance raises nearly 2,000 crore rupees via QIP
Several foreign institutional investors (FII) and national institutional investors (DII) participated in the QIP issue.
It was priced at Rs 1,430 per share, which represents a 0.23% discount from the SEBI floor price of Rs 1,433.32.
The company said its board of directors also approved on June 7, 2021 a preferential issue of Rs 500 crore, split equally between shares and warrants convertible to the promoter, Shriram Capital Limited, at the issue price of Rs 1,440. by title.
“The proceeds from QIP will increase the long-term resources of the company for the needs of financing business activities, financing future growth opportunities and general corporate objectives,” said the vice president and general manager of the company, Umesh Revankar, in the statement.
The Book Running Leaders (BRLM) at QIP included
, Citigroup Global Markets India Ltd and HSBC Securities and Capital Markets (India) Private Ltd.
In fiscal year 2020-21, the after-tax profit of the non-bank asset finance company decreased by 0.58% to Rs 2,487.26 crore, from Rs 2,501.84 crore during for the 2019-2020 fiscal year.
It manages assets of over Rs 1,17,200 crore and has a client base exceeding 21 lakh.