Shriram Finance allots shares worth INR 396 bln on pref basis to MUFG Bank
This story was originally published at 12:26 IST on 8 April 2026
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--Shriram Finance to allot shares worth INR 396 bln on pref basis to MUFG Bk
MUMBAI – Shriram Finance Ltd. will allot shares worth INR 396 billion to MUFG Bank by way of a preferential issue on a private placement basis, the company said in an exchange filing Wednesday.
As per the filing, the company's board has approved the allotment of 471.1 million fully paid-up equity shares of face value of INR 2 each of the company at an issue price of INR 840.93 apiece, including a premium of INR 838.93 per equity share.
In February, the National Stock Exchange and BSE granted in-principle approval for the acquisition of these shares by MUFG Bank. For the December quarter, Shriram Finance reported a net profit of INR 25.22 billion, up 21% on year from an adjusted net profit of INR 20.80 billion a year ago. At 1157 IST, shares of Shriram Finance were trading over 10% higher at INR 1,024.45 on the National Stock Exchange. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Meera Nair
Edited by Deepshikha Bhardwaj
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