Shriram Transport Finance board to consider fund raising proposal via debt securities; Stock tumbles 2%

29 Jul 2022 , 09:19 AM

Shriram Transport Finance Company Ltd has informed to the exchanges regarding intimation of Committee meetings for raising funds.

As per regulatory filing, the Company will consider raising of funds by way of issue of redeemable non-convertible debt securities including bonds in onshore/offshore market on private placement basis, subject to market conditions and in this regard, the meeting of the concerned committees viz. the Banking and Finance Committee, Debt Issuance Committee and Allotment Committee- NCDs will be held to consider and approve the issue and allotment of redeemable non-convertible debt securities / bonds during the month ending August 31, 2022, the company said.

At around 9:18 AM, Shriram Transport Finance Company was trading at Rs1,436.40 per share down by Rs26.05 or 1.78% from its previous closing of Rs1,462.45 per share on the BSE. The current market cap of the company is Rs39,562.16 crore.