On Wednesday, the NBFC said that it will consider raising funds by issuing redeemable non-convertible debt securities including bonds in the onshore/offshore market on private placement basis during the month ending 31 October 2022.

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On 31 October 2022, will approve and consider the issue and allotment of redeemable non-convertible debt securities / bonds. The firm is the largest asset financing NBFC in the country. Shriram finance 1,854 branches in PAN India. However, in Mumbai location it has a live customer base of approx. 21.1 lacs.

On a consolidated basis, the net profit surged 468 per cent to Rs 965.27 crore on 10.7 per cent increase in total income to Rs 5,149.26 crore in Apr-Jun quarter of FY23 over Apr-Jun quarter of FY22. On the Bombay Stock Exchange (BSE), Shriram Transport Finance Company was up 0.82 per cent to Rs 1,175.

In month of October 2022, the company consider raising of funds throgh private placement basis after taking approval from board in this regard, the board meeting of committees named as Banking and Finance Committee, Allotment Committee- NCDs and Debt Issuance Committee which will be held for approval in meeting for the issue and allotment of redeemable non-convertible debt securities / bonds at the end of October month.