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.

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

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

Infrastructure Urban

23 May 2025

Euler Motors Secures Rs 6.38 Billion Funding With Hero

Electric commercial vehicle startup Euler Motors has secured Rs 6.38 billion in its latest Series D funding round, with Hero MotoCorp joining as a key strategic investor. British International Investment, the UK government鈥檚 development finance arm, also continued its support.Euler Motors will use the fresh capital to broaden its national sales and service footprint and accelerate development of new electric vehicle models. This funding arrives as India鈥檚 demand for electric commercial transport surges, especially in e-commerce, retail, and last-mile logistics.Founded in 2018 and based in ..

Infrastructure Transport

23 May 2025

Guwahati Airport Terminal Upgrade Progresses Ahead of October Deadline

Lokpriya Gopinath Bordoloi International Airport in Guwahati, operated by the Adani Group, is set to shift operations to its new terminal by October 2025. Construction and infrastructure work are advancing rapidly to meet this deadline.Assam Chief Secretary Ravi Kota, during a high-level review, directed departments including Public Works (Roads), Water Resources, and Guwahati International Airport Limited (GIAL) to prioritise coordination and adhere strictly to the October timeline.Key tasks include acceleration of work on roadways, service lanes, street lighting, drainage, and utility logist..

Infrastructure Transport

23 May 2025

Cochin Airport Launches Rs two Billion CIAL 2.0 Project

Kerala Chief Minister Pinarayi Vijayan inaugurated the Rs two billion CIAL 2.0 project at Cochin International Airport Limited, aiming to fully digitise airport operations and enhance passenger security. The initiative is a benchmark in airport modernisation, combining social responsibility with development.India handled 375 million air passengers in 2023鈥�24, with a 21 per cent increase in domestic flyers, ranking third globally. Passenger numbers are expected to reach one billion annually by 2040, making airport preparedness critical.Cochin Airport serves around 50,000 daily passengers and ..