The Securities Issuance Committee of Shriram Transport Finance Corporation (STFC) on Saturday approved the allotment of about 1.39 crore equity shares aggregating about Rs 2,000 crore to eligible qualified institutional buyers.
The allotment is at the issue price of Rs.1,430 per equity share (including a premium of Rs.1,420 per equity share). This price is at a discount of Rs.3.32 per equity share — that is 0.23 per cent of the floor price of Rs. 1,433.32 per equity share, the company said in a regulatory filing.
The Qualified Institutions Placement (QIP) issue opened on June 7, 2021 and closed on June 11, 2021.
Pursuant to the allotment of equity shares in the issue, the paid – up equity share capital of the Company stands increased by Rs 13.986 crore to about Rs 267.047 crore.
In FY2021, the standalone assets under management of the non-banking finance company grew about 7 per cent year-on-year to stand at Rs 1,17,243 crore. Pre-owned commercial vehicles financing has been a focus area for the Company ever since its inception.
