Shriram Transport Finance Company Ltd’s board of directors on Monday approved raising of funds, including via a rights issue, aggregating up to ₹4,000 crore.
The fund-raising will be via issuance of equity shares by way of a rights issue for ₹1,500 crore and issuance of specified securities for ₹2,500 crore, the non-banking finance company said in a stock exchange filing.
The company said the fund-raising is subject to receipt of regulatory/statutory approvals, in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the Companies Act, 2013.
The board has constituted Securities Issuance Committee to proceed with rights issue forthwith.