IFC considering investment in Shriram Transport

International Finance Corporation, investment wing of the World bank, is considering $200 million investment in India’s largest used vehicle financier Shriram Transport Finance Company.

Shriram Transport Finance company, founded in 1979, has over 1348 branch offices and 885 Rural Centres. It plans to raise up to Rs 700 crore through non-convertible debentures (NCDs). The base size of the public issue was planned to be Rs 200 crore with an option to retain an additional amount of up to Rs 500 crore from oversubscription, the company said in a release.

Elvis Gomes