Shriram Transport Finance is India’s most significant player in commercial vehicle finance. It is one of India’s largest Non-Banking Finance Company in financing pre-owned trucks & Small Truck Owners incorporated in 1979. It has a network of 488 branches & service centres.
Shriram Transport Finance Company is a part of the SHRIRAM amalgamation, which has a significant presence in financial services such as consumer finance, commercial vehicle financing business, life, general insurance, stockbroking, & distribution of financial products. It was built to provide hire purchase & lease finance for medium and heavy commercial vehicles.
It has launched a lease portfolio management scheme and managed more than 100 cr. of business through this scheme in 1993. Shriram Transport Finance arises with a rights issue of 64.95 lakh equity shares amounting to Rs 6.49 cr. in the year 1995.
Each product & service of Shriram Transport Finance is tailored to suit customer requirements perfectly. It has also launched a dedicated platform – Shriram Auto Malls to trade pre-owned trucks at a market value.MERGERS AND ACQUISITIONS
Shriram Overseas Finance Ltd & Shriram Investments Ltd’s business was merged with the Shriram Transport Finance with effect from the appointed date of April 1, 2005.SERVICES
Here are the services offered by Shriram Transport Finance Company:
Commercial Vehicle Finance
Passenger Commercial Vehicle Finance
Multi Utility Vehicle Finance
Construction Equipment Finance
Received the Best NBFC in the category of Asset-Backed Lending at CNBC TV18 Best Bank and Financial Institution Awards
Received the ICAI Awards for Financial Reporting
During 2003- 2004, it increased the windmills capacity from 4450 kwh to 8650 kwh for generating electricity.
During 2005-2006, the undertaking of Shriram Overseas Finance Ltd & Shriram Investments Ltd was merged with the company with effect from the appointed date April 1, 2005.
During 2006 - 2007: It has made a tie-up with UTI Bank for the issue of co-branded credit cards with various safety features on the VISA platform exclusively to the truck operators. It has also undertaken a shareholders' agreement with Ashok Leyland Ltd & its co-workers to purchase a 40% stake in Ashley Transport Services Ltd.
During 2007- 2008: It has opened its branches across 72 places. It also extended its operations to financing passenger commercial vehicles, second-hand tractors, and construction equipment.
During 2009 - 2010, it introduced touch screen kiosks (one Stop) as a replacement for their successful campaign - 'truck Bazaars'.
In 2009: It has started a wholly-owned subsidiary company, namely Shriram Equipment Finance Company Ltd, and in 2010, it began Shriram Automall India Ltd as a wholly-owned subsidiary.
In 2011: It introduced Shriram Auto Malls, a dedicated platform for trading pre-owned trucks at a fair value.
During 2015-2016: global credit rating agency Fitch upgraded long-term issuer ratings to `IND AA+' from `IND AA'. Another credit rating agency CRISIL upgraded its rating on long-term debt instruments and bank facilities and fixed deposits of Shriram Transport Finance Company to 'CRISIL AA+/FAAA/Stable' from 'CRISIL AA/FAA+/Positive’.
In 2019: It has been awarded as Outstanding Performer on BSE BOND Platform under the Issuer category by BSE Limited.
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