Shriram Transport Finance to raise Rs 500 cr via QIP

09 Jun 2021 CW Team

Shriram Transport Finance Co (STFC) has approved a qualified institutional placement (QIP) offering and a capital infusion from its promoter enterprise Shriram Capital Ltd to raise funds.

The company informed the stock exchanges that Shriram Capital would invest Rs 500 crore in the company through a preferential allotment of equity shares and warrants.

According to a source familiar with the company's fundraising plans, the vehicle financier hopes to raise as much as Rs 2,000 crore through the QIP offering.

As shown in a SEBI formula, the company has set a minimum price of Rs 1,433.32 per QIP. Companies are allowed to offer investors a discount of up to 5% on the floor price under the QIP mechanism.

The issue price for the shares and warrants that Shriram Capital will subscribe to has been set at Rs 1,440 per share. Shriram Finance's stock closed at Rs 1,490.1 per share, up 4.64% on the Bombay stock exchange.

The lender stated in an offer document filed with the stock exchanges that the Net Proceeds will be used to supplement their long-term resources for -- meeting funding requirements of their business activities, financing future growth opportunities, and general corporate purposes, subject to compliance with applicable laws and regulations.

ICICI Securities, JP Morgan, and Axis Capital are among the investment banks advising the company on the QIP offering.

Image Source

Also read: Shriram Housing Finance to get Rs 500 cr capital infusion

Also read: Dubai’s Mark AB Capital to acquire 26% stake of Shriram EPC

Infrastructure Transport

06 May 2026

Pune To Build Nine Km Link Road Between Highways

The Pune Municipal Corporation (PMC) has decided to appoint an expert to plan the development of a nine km long, 60 metre wide road from Khadi Machine chowk to Wadki chowk as an extension to the Katraj-Kondhwa road to link the Mumbai-Satara and Pune-Solapur national highways. The scheme is intended to divert heavy vehicle traffic away from the city and improve access between the two arterial routes. The project has been prioritised by the PMC and forms part of a larger set of schemes in which 19 roads have been identified for development at a combined cost of Rs 9.82 billion (bn) to address c..

Barabanki Bahraich Six Lane Highway Approved in Uttar Pradesh

The Uttar Pradesh government has approved construction of a new six-lane highway linking Barabanki and Bahraich as part of National Highway 927, and the cabinet has cleared the project. The alignment will pass through Mustafabad and Kaiserganj and extend for about 101.5 km, creating a key corridor for local and long-distance movement. The National Highways Authority of India will oversee the work and has signalled the scheme is intended to strengthen regional connectivity and cross-border access to Nepal. The project carries an estimated total cost of Rs 69,690 million, equivalent to Rs 69.69..

Toll At Kharegaon Likely As Highway Upgrade Nears Completion

A section of the highway at Kharegaon has undergone an upgrade and is approaching completion, and authorities have indicated plans for a toll to be introduced once works finish. The project has focused on strengthening the carriageway, improving drainage and upgrading intersections to enhance safety and capacity. Officials have said the toll will be used to recover construction costs and fund ongoing maintenance. The upgrade included resurfacing of the pavement, widening of certain stretches and installation of modern signage and lighting to reduce accident risk. Contractors completed most ma..