Private equity firm TPG Investments has sold its entire stake in Shriram Finance through its India arm via open market transactions on Monday. According to bulk deal data available with the exchanges, TPG India Investments has offloaded about 99.18 lakh shares or 2.64% stake in the company. The transaction was done at a weighted average … Read more
Mumbai: Shriram Finance, formerly known as Shriram Transport Finance (STFC), has raised $150 million through a private placement of senior secured floating-rate notes with Japan’s MUFG Bank. The notes, due in 2026, are priced at a 225-basis-point premium to the secured overnight financing rate (SOFR), translating into a cost of 9% for the financier. One … Read more
New Delhi: Kotak Institutional Equities (KIE) remains positive on Shriram Transport Finance Company Limited (STFCL), which now will be known as Shriram Finance Limited (SFL). The company, in its regulatory filing with exchanges on Thursday, said it has changed its name to Limited from Limited from November 30. In its report, Kotak Institutional Equities said … Read more
Mumbai: Signs of dollar shortage are emerging in India and several companies with overseas currency borrowing could face some headwinds, the central bank’s Financial Stability Report (FSR) said. “Signs of stress in short-term dollar funding are also emerging,” it said. “With the announcement of sanctions, the Forward Rate Agreement – Overnight Indexed Swap spread – … Read more
Technical and derivative analysts expect the Nifty to rise further in the coming week, up to 16,000 levels. The Nifty gained 2.7% last week to 15,699.25, outperforming most of the Asian peers. SUDEEP SHAH HEAD, TECHNICAL & DERIVATIVES RESEARCH, SECURITIES What should investors/traders do? Investors should look to buy the dips until 15,450 levels are … Read more
Amid fears of a third wave of coronavirus pandemic and hardening of retail inflation, the Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy. The RBI is scheduled to announce its bi-monthly monetary policy review … Read more
Shriram Transport Finance proposed to use the proceeds in funding second-hand truck purchases as the phased unlocking brightens business opportunities. Synopsis Shriram Transport launched its QIP on June 7. The issue obtained bids six times more than the actual size. It closed at Rs 1,430 per share, which was nearly 3% lower than the closing … Read more
An MLD is a type of debenture that does not pay any coupon before maturity. Synopsis “Wealthy investors are now looking short term as the interest rate cycle will likely turn after 12-18 months,” said Ajay Manglunia, head of debt capital market at JM Financial. “MLDs are gaining popularity in this environment as the absolute … Read more
An MLD is a type of debenture that does not pay any coupon before maturity. Synopsis “Wealthy investors are now looking short term as the interest rate cycle will likely turn after 12-18 months,” said Ajay Manglunia, head of debt capital market at JM Financial. “MLDs are gaining popularity in this environment as the absolute … Read more