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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 price of Rs 1,475.25 apiece Friday.

MUMBAI: Top global and local funds, including Fidelity and East Bridge, last week bought into the Rs 2,000-crore share sale to institutions by India’s largest used-truck financier, Shriram Transport Finance (STFC), indicating demand for higher freight load as India reopens in phases.

Millennium Investment and Myriad Asset Management were among the other overseas funds. Among the other buyers of the qualified institutional placement (QIP) were

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Who invested in the Rs 2,000 cr Shriram Transport QIP?

By ariox