Company Profile

Shriram Transport Finance Company is considering raising of funds through various options of borrowings including by way of issue of debt securities in onshore/offshore market by public issue and/ or private placement basis and commercial papers. Based on the market conditions, Banking and Finance Committee/Debt Issuance Committee / Bond Issuance Committee will consider and approve such issuances of debt securities during the month ending December 31, 2020 subject to such terms and conditions including the issue price of debt securities, as the respective committees may deem fit.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.

Shriram Transport Finance Company has informed that the Company is considering raising of funds through various options of borrowings including by way of issue of debt securities in onshore/offshore market by public issue and/ or private placement basis and commercial papers. Based on the market conditions, Banking and Finance Committee/Debt Issuance Committee / Bond Issuance Committee will consider and approve such issuances of debt securities during the month ending December 31, 2020 subject to such terms and conditions including the issue price of debt securities, as the respective committees may deem fit. This is for the information and in compliance regulation 29 and other applicable provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations 2015.

The above information is a part of company’s filings submitted to BSE.

Shriram Transport Finance Company (STFC) has raised Rs 100 crore by issuing bonds on private placement basis. The allotment committee of the company in its meeting held on November 25, 2020, has approved and allotted senior secured rated, listed principal protected market linked redeemable Nonconvertible debentures (NCD) on Private placement basis for an issue size of Rs 75 crore plus green shoe option of Rs 25 crore.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.

Laurus Labs has signed definitive agreements to acquire a majority stake in Richcore Lifesciences (Richcore). Richcore, a fast-growing biotech company based in Bengaluru with its advanced R&D and manufacturing facilities, develops and manufactures biotech products critical for manufacturing biological drugs. Richcore also helps its global customers to develop and scale-up their bioprocesses by providing contract research, development, and manufacturing services.

JTL Infra has commenced commercial production at recently acquired Mandi Gobindgarh Manufacturing Facilities. Addition of these ready to use manufacturing facilities at Mandi Gobindgarh shall strengthen company’s market share in Northern Region market. The company is expecting that with these add-on Mandi Gobindgarh facilities, revenue of the Company shall be increased by approximately Rs 200 crore on annual basis.

Cochin Shipyard is building two autonomous electric vessels with zero carbon emission for a Norwegian company. The production of the vessels began with a plate-cutting ceremony organised virtually at the company. The two vessels are being built for ASKO Maritime AS, Norway. The company signed contracts for construction and supply of the two autonomous electric ferries for the Norwegian company with an option to build two more identical vessels in July 15 this year.

Union Bank of India’s board has approved raising of equity capital up to Rs 6,800 crore (including premium, if any) during 2020-21 by way of various modes such as Public lssue (i.e. Follow-on Public Offer) and/or Rights Issue and/or Private Placements, including Qualified Institutions Placement and/or Preferential Allotment to the Government of India. The Board of Directors of the bank in its meeting held on November 25, 2020, has approved the same. Extraordinary General Meeting (EGM) for taking shareholders' approval in this regard will be held on December 30, 2020.

HDFC Bank has signed memorandum of understanding (MoU) with Inventivepreneur Chamber of Commerce & Industries (ICCI) to support SMEs and Start-ups. Through this association, ICCI will engage, enroll and support various Startups /SMEs /MSMEs to facilitate inter-alia financial and other facilities to/from HDFC Bank. HDFC Bank may offer bank accounts to Startups that are supported by Inventivepreneur and recommended by Inventivepreneur.

Shriram Transport Finance Company (STFC) has raised Rs 100 crore by issuing bonds on private placement basis. The allotment committee of the company in its meeting held on November 25, 2020, has approved and allotted senior secured rated, listed principal protected market linked redeemable Nonconvertible debentures (NCD) on Private placement basis for an issue size of Rs 75 crore plus green shoe option of Rs 25 crore.

Shradha Infraprojects’ wholly owned subsidiary -- Active Infrastructure has resumed the construction work for NIT situated at Rangilal Marg, Mangaiwari Bazar, Nagpur having Land area of around 5290 Sq. Meter. The total construction area of the said project will be around 19000 Sq. Meter. 

Credit rating agency -- India Ratings and Research (Ind-Ra) has assigned ‘Provisional AAA(CE) /Stable’ rating to Shriram Transport Finance Company’s structured Non-Convertible Debentures (NCDs) proposed to be issued by the company up to Rs 40,000 million.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.