Shriram Finance board plans to raise Rs35,000 crore via debt securities; Stock soars 2.5%

26 Dec 2022 , 10:32 AM

Shriram Finance Limited has informed to the exchanges regarding outcome of the Board meeting.

In a meeting of Board of Directors, the Board has declared an interim dividend of 150% i.e. Rs.15/- per equity share of face value Rs.10/- each fully paid up for the FY 2022-23, subject to deduction of tax at source, if any, to be paid to those members whose name appears in the Register of Members of the Company as on Wednesday, January 4, 2023 being the Record Date, for the purpose of payment of interim dividend. 

The interim dividend payout will be made to eligible shareholders on or after Wednesday, January 18, 2023, the company said.

Further, the Board has approved issuance of redeemable non-convertible debentures/subordinated debentures, bonds or any other structured/hybrid debt securities on private placement basis for purpose of business of the Company upto Rs35,000 crore, subject to approval of shareholders of the Company.

At around 10:32 AM, Shriram Finance was trading at Rs1334.45 per share higher by 2.58% on the BSE.

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