The NBFC on Wednesday said that it will consider raising of funds by issuing of redeemable non-convertible debt securities including bonds in onshore/offshore market on private placement basis during the month ending 31 October 2022.
The special committee of the board will consider and approve the issue and allotment of redeemable non-convertible debt securities / bonds during the month ending 31 October 2022 as per their respective terms of reference, subject to such terms and conditions including the issue price of debt securities/ bonds, as the said committees may deem fit.
Shriram Transport Finance Company, the flagship company of the Shriram group, is the largest asset financing NBFC in the country. It is a holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets. It has PAN India presence with 1,854 branch offices. Based at Mumbai, it has a live customer base of approx. 21.1 lacs.
The company's standalone net profit jumped 468% to Rs 965.27 crore on 10.7% increase in total income to Rs 5,149.26 crore in Q1 FY23 over Q1 FY22.
Shares of Shriram Transport Finance Company were up 0.82% to Rs 1,175 on the BSE.
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