Shriram Transport Finance to raise Rs 1000 crores

The Board of Directors of Shriram Transport Finance Company Ltd has approved raising of funds by way of a public issue of secured, redeemable non-convertible debentures not exceeding Rs 1,000 crores in one or more tranches, pursuant to the provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008.

the Board also approved the proposal to form a wholly owned subsidiary to focus on equipment finance business.

The stock closed the day at Rs.256.75, up by Rs.11.90 or 4.86%. The stock hit an intraday high of Rs.262 and low of Rs.249.05.

The total traded quantity was 39581 compared to 2 week average of 25023.

Source : Equity Bulls

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