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Incorporated in 1979, Shriram Transport Finance Company (STFC) is promoted by Shriram Transport Group. The company is engaged in hire purchase and lease financing. Its office is located in Chembur ( Mumbai, Maharashtra ). The transport finance portfolio of the group currently consists of more than 20000 hire purchase and lease contracts with total value of more than Rs. 500 crore. The company mainly finances small lorry operators. Most other leading companies are lending to fleet operators. Shriram is the only group, which is lending on a large scale to small lorry operators having one or two trucks. The company has a network of 200 locations, which facilitate in lending and collection of installments from lorry operators. STFC is also strong in second hand truck finance.
Recent Developments: Shriram Transport Finance Company Ltd has informed the Bombay Stock Exchange (BSE) that its board has allotted 62,43,000 equity shares of Rs 10 each for cash at Rs 12 per share (including a premium of Rs 2 per Share) to Citicorp Finance (India) Ltd on preferential basis at its meeting held on November 28, 2002. Further the board has declared an interim dividend of 10 per cent on the equity shares for the year 2002-2003. The directors have confirmed December 21, 2002 as the record date. In May 2002, the company board approved issue of 88,58,493 equity shares of Rs 10 each on preferential basis for cash at par or at such price as may be determined in accordance with Sebi Guidelines, whichever is higher, to Citicorp Finance India Ltd.
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