Shriram Transport Finance inches up on getting approval for raising of funds

Mumbai : Shriram Transport Finance Company is currently trading at Rs. 1207.40, up by 7.50 points or 0.63% from its previous closing of Rs. 1199.90 on the BSE. The scrip opened at Rs. 1215.00 and has touched a high and low of Rs. 1218.80 and Rs. 1204.45 respectively. So far 6855 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1670.60 on 27-Apr-2018 and a 52 week low of Rs. 903.50 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1288.35 and Rs. 1194.60 respectively. The current market cap of the company is Rs. 27490.25 crore. The promoters holding in the company stood at 26.08%, while Institutions and Non-Institutions held 53.76% and 20.16% respectively. Shriram Transport Finance Company has received an approval for raising of funds through upsizing the existing Medium Term Note Programme established for Rs 5,000 crore to a Global Medium Term Note Programme up to $ 2 billion by way of public/ private issue of debt securities in international markets and External Commercial Borrowings up to $750 million.

The Board of Directors of the company at their meeting held on April 03, 2019, approved the same. Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.

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