This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Shriram Capital Set to Merge with Transport Finance & City Union Finance
November 9, 2021
The Shriram group companies are said to be nearing a deal to merge unlisted Shriram Capital Ltd. with its listed units Shriram Transport Finance Co. and Shriram City Union Finance Ltd., as per people familiar with the matter. If the deal goes through, the merged company will have assets under management of INR 1.5tn ($20bn), the sources added as per Bloomberg. Its insurance business has been left out of deal after objections from the central bank. ICICI Securities Ltd and Morgan Stanley are advisors on the deal, which can be announced as soon as the coming weeks. The deal will essentially help investors in Shriram Capital cash out. These include its billionaire promoter Ajay Piramal and PE firm TPG Capital.
Shriram Transport Finance’s 4.4% 2024s traded steady at 100.34 yielding 4.24%.
For the full story, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.