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Home » I.P.O. / Offerings » Banking/Financial Services » Shriram Transport Finance Raises Rs 583cr Via QIP |
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Shriram Transport Finance Raises Rs 583cr Via QIP
by Jarna Gandhi | January 29,2010 - 02:23 PM
Topics : I.P.O. / Offerings
Industries : Banking/Financial Services
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Shriram Transport Finance Company Ltd has raised Rs 583cr through QIP of equity shares by alloting 116.58 lakh shares of Rs 10 each at Rs 500.8 per share.
The QIP issue has resulted in an equity dilution of around 5.20%.
Citigroup, BofA-ML and IDFC SSKI were appointed as joint global co-ordinators and lead managers to the issue.
Final allocations were made to 45 marquee global as well as domestic funds and insurers which included 22 existing investors and the rest, new investors. Genesis-UK, Wellington- USA, Eton Park UK, Credit Agricole-Hong Kong and Reliance Mutual Fund are the top buyers of the QIP.
The issue will improve the capital adequacy ratio of STFC and the net proceeds will be primarily utilised for accelerating the expansion of the core commercial vehicle financing business as also fresh investments in the proposed equipment financing and vehicle trading ventures. STFC had a CAR of 16.69% as on September 2009. Recent Deals Involving the Shriram Group | Date | Type | Target | Buyer/ Seller | Size ($mn) | | Dec-09 | Part Acquisition | GE Capital Transportation Financial Services LTd (India Assets) | STFC | 191.45 | | Nov-09 | PE Exit (Total Exit) | STFC | Chrys Capital | 220 | | Nov-09 | PE Investment | Shriram EPC Ltd | Argonaut Ventures LLC | 4.75 | | Aug-09 | PE Investment | Shriram City Union Finance Ltd | Norwest Venture Partners India Ltd | 27.85 | Source: ET
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| Date | Type | Sub Type | Buyer | Size |
| Shriram Transport Finance - NCD. |
| 18/06/10 |
DEBT |
Non- Convertible Debentures |
Looking For |
108.3 |
| Shriram Transport Finance - NCD |
| 18/05/10 |
DEBT |
Non- Convertible Debentures |
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111 |
| Shriram Transport- QIP |
| 29/01/10 |
IPO / Offerings |
QIP |
Genesis Investment Management LLP |
125.00 |
| Shriram Transport - ChrysCapital III LLC Exit |
| 06/11/09 |
Private Equity |
Capital Market Transaction |
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36.92 |
| Shriram Transport - ChrysCapital III LLC Partial Exit4 |
| 11/09/09 |
Private Equity |
Capital Market Transaction |
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70.71 |
| Shriram Transport - ChrysCapital III LLC Partial Exit3 |
| 04/08/09 |
Private Equity |
Capital Market Transaction |
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50.00 |
| Shriram Transport - ChrysCapital III LLC Partial Exit2 |
| 21/05/09 |
Private Equity |
Capital Market Transaction |
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62.98 |
| Shriram Transport - ChrysCapital III LLC Partial Exit1 |
| 22/02/08 |
Private Equity |
Capital Market Transaction |
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35.00 |
| Shriram Transport - Blue Ridge Capital |
| 12/11/07 |
Private Equity |
Private Placement |
Blue Ridge Capital LLC |
91.00 |
| Shriram Transport - ChrysCapital III LLC |
| 15/02/05 |
Private Equity |
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ChrysCapital III LLC |
0.00 |
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Recent Transactions In The Sector |
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| Date | Type | Buyer | Target | Size | State |
| 06/09/10 |
M&A |
Bombay Stock Exchange Limited |
Computer Age Management Services Private Limited |
139.86 |
Planned |
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| 02/09/10 |
M&A |
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National Stock Exchange Of India Limited |
0.00 |
Planned |
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| 31/08/10 |
IPO / Offerings |
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Punjab And Sind Bank |
0.00 |
Announced |
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| 31/08/10 |
DEBT |
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Oriental Bank Of Commerce |
169.96 |
Planned |
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| Company |
| Name | Promoters | Office | Competitor | Website |
| Reliance Mutual Fund |
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| Shriram Transport Finance Company Limited |
Shriram Holdings (Madras) Private Limited |
123, Angappa Naicken St
Chennai
Tamil Nadu- 600001 |
Tata Motorfinance Limited
Sundaram Finance Limited
Cholamandalam DBS Finance Limited |
http://www.stfc.in/home.asp |
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