The Finance Industry Development Council (FIDC), the representative body of asset and loan financing of the NBFCs in India, has appointed Umesh Revankar as its new Chairman. The managing committee elected Revankar unanimously in a meeting convened in Mumbai. He currently holds the position of Executive Vice Chairman for Shriram Finance Ltd., and brings with…
Shriram Transport Finance Limited (STFC), India’s Commercial Vehicle Financier and Shriram City Union Finance Ltd. (SCUF), India’s diversified NBFC in the underserved segment and their Promoter entity Shriram Capital Limited (SCL) announced that the boards of directors of STFC, SCUF & SCL, at their respective board meetings held on 13th December 2021, approved the merger…
Shriram Transport Finance Company Limited (STFC), has successfully raised Rs. 1,998.98 crores via a qualified institutions placement of equity shares. The Company had launched its QIP on June 7, 2021 and received 6.3x oversubscription. The QIP was priced at Rs. 1,430 per share, representing a discount of 0.23% to the regulatorily determined floor price was…