Shriram Transport Finance Company Archives - PuneDiary.Com https://punediary.com/tag/shriram-transport-finance-company/ Each & Everything About Pune Mon, 13 Sep 2021 05:51:16 +0000 en-GB hourly 1 https://wordpress.org/?v=6.2.5 https://punediary.com/wp-content/uploads/2018/12/cropped-pen-32x32.png Shriram Transport Finance Company Archives - PuneDiary.Com https://punediary.com/tag/shriram-transport-finance-company/ 32 32 Shriram Transport Finance launches Blockchain technology for issuance of fixed deposit certificate https://punediary.com/shriram-transport-finance-launches-blockchain-technology-for-issuance-of-fixed-deposit-certificate/ https://punediary.com/shriram-transport-finance-launches-blockchain-technology-for-issuance-of-fixed-deposit-certificate/#respond Mon, 13 Sep 2021 05:51:16 +0000 https://punediary.com/?p=5495 Mr . Umesh Revankar,Vice Chairman & MD - Shriram Transport Finance Ltd

Mumbai, 07 September 2021: Shriram Transport Finance Company Limited (STFC) is India’s largest asset financing company. As a part of STFC’s ongoing digital-first approach, the company has launched India’s first Blockchain assured Digital FD Certificates to provide 100% cryptographic security and authenticity on its private blockchain with seamless customer service. Currently, The ShriramUnnati Fixed Deposits scheme […]

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Mr . Umesh Revankar,Vice Chairman & MD - Shriram Transport Finance Ltd

Mumbai, 07 September 2021: Shriram Transport Finance Company Limited (STFC) is India’s largest asset financing company. As a part of STFC’s ongoing digital-first approach, the company has launched India’s first Blockchain assured Digital FD Certificates to provide 100% cryptographic security and authenticity on its private blockchain with seamless customer service. Currently, The ShriramUnnati Fixed Deposits scheme offers the highest return rate up to 7.75% interest rates. Senior Citizens can avail higher additional returns of up to 0.30% and above the normal interest rates.

Mr. Umesh Revankar, Vice Chairman and Managing Director of Shriram Transport Finance Company, while describing the successful launch stated “In our endeavor to continuously look for innovative ways to connect with customers and make their experience seamless, we are delighted to announce the launch of Blockchain technology. We are proud to be among the first NBFC to adopt this technology in India. We are constantly reinventing many such digital initiatives to make the journey our customers secure, seamless, and convenient.”

As part of the digital certificate issuance process, customers will be able to access the digital certificate instantly with the help of a trust infrastructure created by STFC where they can download, share or verify the authenticity of the digital certificates at ease. Blockchain will create a Global Trust of these FD certificates and making it immutable data on the infrastructure for any future audit.

The company is associated with Novac Technology Solutions as their digital solution partner and they have onboarded award-winning start-up Print2Block from Chennai for issuing deposit certificates using blockchain technology on their Docchain.io Platform. STFC has plans to onboard other start-ups to leverage the optimal use of blockchain technology. STFC is focused on adopting innovative technology and is keen on continuing to leverage the strong technology of blockchain. The company is looking forward to opening new frontiers with the latest technology innovations that can help customers feel safe and secure with a seamless customer service experience.

About Shriram Transport Finance Company Limited (STFC):

Shriram Transport Finance Company Limited is the flagship company of the Shriram group. STFC is India’s largest player in commercial vehicle finance, was established in the year 1979. The company has a niche presence in financing pre-owned trucks for Small Truck Owners (STOs) and has a presence with a network of 1,585 branches, 856 rural centers, and tie-up over 500 private financiers across the country.

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Shriram Transport Finance Company raises Rs. 2000 crores via QIP https://punediary.com/shriram-transport-finance-company-raises-rs-2000-crores-via-qip/ https://punediary.com/shriram-transport-finance-company-raises-rs-2000-crores-via-qip/#respond Tue, 15 Jun 2021 06:28:37 +0000 https://punediary.com/?p=4748 Mr. Umesh Revankar,

Mumbai, 14th June 2021: Shriram Transport Finance Company Limited (“STFC” or “Company”), has successfully raised Rs. 1,998.98 crores via a qualified institution’s placement of equity shares. The Company had launched its QIP on June 7, 2021, and received 6.3x oversubscription. The QIP was priced at Rs. 1,430 per share, representing a discount of 0.23% to the […]

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Mr. Umesh Revankar,

Mumbai, 14th June 2021: Shriram Transport Finance Company Limited (“STFC” or “Company”), has successfully raised Rs. 1,998.98 crores via a qualified institution’s placement of equity shares. The Company had launched its QIP on June 7, 2021, and received 6.3x oversubscription. The QIP was priced at Rs. 1,430 per share, representing a discount of 0.23% to the SEBI floor price of Rs.1,433.32. Several FIIs and DIIs participated in the QIP.

The Book Running Lead Managers (BRLMs) to the issue were ICICI Securities Limited, J.P. Morgan India Private Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, and HSBC Securities and Capital Markets (India) Private Limited.

The board has also approved on 7th June 2021 a preferential issue of Rs. 500 crores, equally split between equity shares and convertible warrants to the Promoter, Shriram Capital Limited at the issue price of Rs. 1,440 per security.

Mr. Umesh Revankar, Vice Chairman and Managing Director of Shriram Transport Finance Company, while describing the successful issuance stated “We are delighted by the response of and participation by the global and domestic investor community in STFC’s QIP. We believe that the 6.3x oversubscription and successful closure without many discounts is a testament to the value of our franchise and its attractive growth prospects in long term. The QIP proceeds will augment the Company’s long-term resources for funding requirements of business activities, financing future growth opportunities and general corporate purposes.”

About Shriram Transport Finance Company Limited:

STFC is part of the Shriram group which has a strong presence in financial services in India, including Consumer Finance, Life Insurance, General Insurance, Stock Broking, and Distribution of financial products businesses. Established in 1979, STFC has a long track record of over three decades in the commercial vehicle financing industry in India. STFC is one of the leading non-banking finance companies classified as an Investment and Credit Company in the organized sector in India that cater to first-time buyers and small road transport operators for financing pre-owned commercial vehicles. It offers financial services to commercial vehicle operators, thereby providing comprehensive financing solutions to the road logistics industry in India. It has a pan-India presence with 1,817 branch offices, as of March 31, 2021, and manages assets of over Rs. 1,17,200 crores and has a customer base exceeding 21 lakh. , It also provides new CV financing besides other products like accidental repair loans, tire loans, and working capital finance, etc. For more information please visit https://www.stfc.in/

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