Shriram Transport Finance to raise up to Rs 1,000 crore

09 Jun 2011 Evaluate

Shriram Transport Finance, a commercial vehicle finance company is planning to raise up to Rs 1,000 crore through the sale of non-convertible debentures, as per the draft prospectus filed with the market regulator SEBI.

The commercial vehicle finance company has not yet finalised the tenor and coupon of the bond sale but it could sell 60-month bonds with a put and call option exercisable at the end of 48 months and 36 month-bond with no put and call options.

The final prospectus could be released by 16th -17th of June and the issue could open after June 20. The issue is rated 'AA/Stable' by CRISIL and 'CARE AA+' by CARE. JM Financial and ICICI Securities are appointed lead managers to the issue.

The company has posted a net profit of Rs 340.62 crore for the quarter ended March 31, 2011 as compared to Rs 264.42 crore for the quarter ended March 31, 2010, up 29%. Total income of the company has increased from Rs 1228.20 crore for the quarter ended March 31, 2010 to Rs 1387.47 crore for the quarter ended March 31, 2011.

For the year ended March 31, 2011, the company’s net profit has increased 41% to Rs 1229.88 crore as compared to Rs 873.12 crore for the year ended March 31, 2010. Its total income has increased from Rs 4495.89 crore for the year ended March 31, 2010 to Rs 5429.65 crore for the year ended March 31, 2011.

Shriram Transport Finance Company is the largest player in commercial vehicle finance. It lends finance for pre-owned trucks to new trucks.

Shriram Finance Share Price

2871.75 -74.45 (-2.53%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Bajaj Finance 6836.60
Shriram Finance 2871.75
Aditya Birla Capital 186.20
SBI Cards AndPayment 687.35
Mah & Mah Finl. Serv 266.40
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