Public Market

Secondary Issues

Shriram Transport Finance raises Rs.2,000-Cr via QIP

Mint  

Auto finance company Shriram Transport Finance has raised INR 2,000 crore through its latest qualified institutions placement (QIP) issue. The auto finance player has allotted 13,986,000 equity shares of face value INR 10 each to eligible qualified institutional buyers at the issue price of INR 1,430 per equity share (including a premium of INR 1,420 per equity share) at a discount of INR 3.32 per equity share, i.e. 0.23% of the floor price of INR 1,433.32 per equity share, aggregating to INR 1999,99,80,000.