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Shriram Transport Finance Company moves up on planning to raise funds

Shriram Transport Finance Company is currently trading at Rs. 1416.85, up by 1.10 points or 0.08% from its previous closing of Rs. 1415.75 on the BSE.

The scrip opened at Rs. 1436.90 and has touched a high and low of Rs. 1442.55 and Rs. 1367.00 respectively. So far 101704 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1534.90 on 15-Feb-2021 and a 52 week low of Rs. 514.37 on 22-May-2020.

Last one week high and low of the scrip stood at Rs. 1442.55 and Rs. 1320.00 respectively. The current market cap of the company is Rs. 35757.59 crore.

The promoters holding in the company stood at 26.48%, while Institutions and Non-Institutions held 67.88% and 5.64% respectively.

Shriram Transport Finance Company is planning to raise funds by way of issue of redeemable non-convertible debt securities in onshore/offshore market by private placement basis and/or public issue subject to market conditions and in this regard, the meeting of the concerned committees viz. the Banking and Finance Committee, Debt Issuance Committee, Bond Issuance Committee, Allotment Committee- NCDs will be held to consider and approve the issue and allotment of redeemable non-convertible debt securities during the month ending May 31, 2021 as per their respective terms of reference, subject to such terms and conditions including the issue price of debt securities, as the said committees may deem fit.

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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