Shriram Transport Finance Raises Rs 583cr Via QIP
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 ($mn) |
| Dec-09 | Part Acquisition | GE Capital Transportation Financial Services LTd (India Assets) | STFC | 191.45 |
| Nov-09 | PE Exit (Total Exit) | STFC | Chrys Capital | 220 |
| Nov-09 | PE Investment | Shriram EPC Ltd | Argonaut Ventures LLC | 4.75 |
| Aug-09 | PE Investment | Shriram City Union Finance Ltd | Norwest Venture Partners India Ltd | 27.85 |
Source: ET
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KVEZAR VIEW
DEAL TRACKER FOR
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 11/03/11 | Shriram Transport - TPG Capital (Exit) | Private Equity | - | |
| 29/01/10 | Shriram Transport- QIP | IPO / Offerings | Genesis Investment Management LLP | 125.91 |
| 06/11/09 | Shriram Transport - ChrysCapital III LLC Exit | Private Equity | 36.92 | |
| 11/09/09 | Shriram Transport - ChrysCapital III LLC Partial Exit4 | Private Equity | 70.71 | |
| 04/08/09 | Shriram Transport - ChrysCapital III LLC Partial Exit3 | Private Equity | 50.00 | |
| 21/05/09 | Shriram Transport - ChrysCapital III LLC Partial Exit2 | Private Equity | 62.98 | |
| 22/02/08 | Shriram Transport - ChrysCapital III LLC Partial Exit1 | Private Equity | 35.00 | |
| 12/11/07 | Shriram Transport - Blue Ridge Capital | Private Equity | Infinite India Investment Management Fund | 82.10 |
| 16/02/05 | Shriram Transport - ChrysCapital III LLC Exit | M&A | - | |
| 15/02/05 | Shriram Transport - ChrysCapital III LLC | Private Equity | ChrysCapital III LLC | - |
| 09/09/04 | Shriram Transport - FMO | Private Equity | FMO - Netherlands Development Company | 2.70 |
| 01/06/04 | Shriram Transport - Reliance Capital | Private Equity | Reliance Equity Advisors | 2.70 |
Recent Transactions In The Sector
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 07/02/12 | M&A | Piramal Healthcare Limited | Looking For | - | Planned |
| 07/02/12 | Private Equity | Life Insurance Corporation of India | Dena Bank | 25.49 | Announced |
| 02/02/12 | Private Equity | AU Financiers India Private Limited | - | Planned | |
| 01/02/12 | M&A | Kotak Mahindra Bank Limited | Credit Card Portfolio | - | Completed |
Profiles
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Genesis Investment Management LLP | Sector Agnostic | Arindam Bhattacharjee | ||
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Reliance Mutual Fund | ||||
| 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 Bajaj Finserv Limited |
http://www.stfc.in/home.asp |
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