MUMBAI: Non-banking finance firm Shriram Transport Finance (STFC) on Monday mentioned it has raised Rs 1,998.98 crore by its certified institutional placement (QIP) difficulty. The difficulty, which was launched on June 7, 2021, obtained 6.3 occasions oversubscription, an organization launch mentioned.
A number of overseas institutional traders (FIIs) and home institutional traders (DIIs) participated within the QIP difficulty.
It was priced at Rs 1,430 per share, representing a reduction of 0.23 per cent to the SEBI flooring worth of Rs 1,433.32.
The corporate mentioned its board additionally authorised on June 7, 2021 a preferential difficulty of Rs 500 crore, equally break up between fairness shares and convertible warrants to the promoter, Shriram Capital Restricted, on the difficulty worth of Rs 1,440 per safety.
“The QIP proceeds will increase the corporate’s long-term sources for funding necessities of enterprise actions, financing future development alternatives and basic company functions,” the corporate’s Vice Chairman and Managing Director Umesh Revankar mentioned within the launch.
The e book working lead managers (BRLMs) to the QIP included Axis Capital Ltd, Citigroup World Markets India Ltd and HSBC Securities and Capital Markets (India) Non-public Ltd.
Within the fiscal 2020-21, the asset financing Non-banking finance firm’s revenue after tax declined 0.58 per cent to Rs 2,487.26 crore, as in opposition to Rs 2,501.84 crore in FY 2019-2020.
It manages property of over Rs 1,17,200 crores and has a buyer base exceeding 21 lakh.
