Company Profile

Enforcement Directorate (ED) has imposed penalty of Rs 5 crore on Shriram Transport Finance Company (STFC) in relation to an old case of issue of warrants by erstwhile Shriram Holdings (Madras) (SHMPL), which was amalgamated with the company in April 2012, to a person resident outside India in 2006.

The company represented itself with relevant information and facts that it was of the bona fide view that it had not contravened any of the provisions of the Foreign Exchange Management Act (FEMA).

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

With reference to the news item appeared in ‘CNBC TV 18’ today regarding the Company's exposure of Rs 500 crores in Additional Tier I Bonds of Yes Bank, Shriram Transport Finance Company has clarified that the Company does not hold any Additional Tier I Bonds of Yes Bank. The Company had invested in Upper Tier II Bonds of Yes Bank of Rs 50 Crores in the year 2010 and the same are outstanding as on date. 

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

The United States Food and Drug Administration (USFDA) has successful completed regulatory inspection at SMS Pharmaceuticals’ exclusive testing facility during March 02, 2020 to March 06, 2020. The regulatory audit resulted in zero observation.

Bank of Maharashtra has raised Rs 600 crore (Issue of Rs 200 crore plus Green Shoe Option of Rs 400 crore) through issue of Basel III Compliant Tier II Bonds. The bank has allotted 6000 bonds of face value Rs 10 lakh each to allottees on March 6, 2020. The Coupon rate of bond is 8.70% and it will get mature on March 6, 2030.

The government has invited bids for the sale of its entire 52.98% stake in the Bharat Petroleum Corporation (BPCL) on March 07, 2020. The Government of India is proposing strategic disinvestment of its entire shareholding in BPCL comprising 114.91 crore equity shares, which constitutes 52.98 per cent of BPCL’s equity share capital, along with transfer of management control, to a strategic buyer (except BPCL’s equity shareholding of 61.65% in Numaligarh Refinery).

Indian Hume Pipe Company has received Letter of Acceptance for the work of Rs 492.30 crore (excluding GST) for execution of 'Filling of tanks in Kushtagi taluk of Koppal District by lifting water from Krishna river for ground water development and drinking purpose' from Minor Irrigation & Ground Water Development Division, Koppal, Government of Karnataka. The project is to be completed within three years. The Agreement will be signed in due course.

InterGlobe Aviation (IndiGo) will not charge any fee for rescheduling of domestic and international flights booked for March 12-31, amid coronavirus scare. There would also be zero change fee for fresh bookings made between March 12 and 31. The fee waiver would only apply to change of dates of flights but not in case of cancellation. The waiver would be applicable for both domestic and international flights.

PTC India has recently won consulting projects worth Rs 75 crore from its long-term associate Energy Efficiency Services (EESL). The company will now manage EESL's flagship ‘Street Light National Program’ (SLNP) in Gujarat, Bihar, Maharashtra, Jammu & Kashmir and West Bengal. Order for Gujarat has been received and PTC is the lowest bidder for the remaining states.

Shriram Transport Finance Company (STFC) has signed a memorandum of understanding (MoU) with Indian Oil Corporation (IOCL) through which the STFC customers will be offered credit limit to purchase fuel from the pan India outlets of IOCL. This will enable STFC customers to have an efficient way of purchasing auto fuels like diesel, petrol and lubricants at credit through wide network of IOCL. Fuel finance service will be a cash/card-free transaction.

Shriram Transport Finance Company (STFC) has signed a memorandum of understanding (MoU) with Indian Oil Corporation (IOCL) through which the STFC customers will be offered credit limit to purchase fuel from the pan India outlets of IOCL.

This will enable STFC customers to have an efficient way of purchasing auto fuels like diesel, petrol and lubricants at credit through wide network of IOCL. Fuel finance service will be a cash/card-free transaction.

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

Pursuant to Regulation 57(1) of the SEBI (LODR), Shriram Transport Finance Company has informed that the company has made timely payment of interest for the Non-Convertible Debentures (NCDs) issued by the Company as details enclosed.

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