Shriram City Union Finance spurts on getting nod to raise Rs 300 crore

Shriram City Union Finance is currently trading at Rs. 1646.85, up by 33.20 points or 2.06% from its previous closing of Rs. 1613.65 on the BSE.

Shriram City Union Finance
Shriram City Union Finance

The scrip opened at Rs. 1625.80 and has touched a high and low of Rs. 1650.70 and Rs. 1610.00 respectively. So far 2086 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2600.00 on 14-Sep-2021 and a 52 week low of Rs. 1402.00 on 08-Mar-2022.

Last one week high and low of the scrip stood at Rs. 1696.75 and Rs. 1594.50 respectively. The current market cap of the company is Rs. 10949.47 crore.

The promoters holding in the company stood at 34.61%, while Institutions and Non-Institutions held 32.17% and 33.22% respectively.

Shriram City Union Finance has received approval to raise up to Rs 300 crore by issuing debt securities on a private placement basis.

In this regard the company is all set to issue of principal-protected market-linked non-convertible debentures (PP-MLD) for an amount of Rs 50 crore (base issue size) with a green shoe option up to Rs 250 crore aggregating up to 3,000 PP-MLDs.

The banking and securities management committee of the company had at its meeting held on June 14, 2022 has approved the same.

Shriram City Union Finance is India’s premier financial services company specializing in small-ticket retail finance.

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