With over a 92 percent rise in the share price over the past year, Shriram Finance is the top contender to replace UPL in the benchmark Nifty in the March review
The companys assets under management increased 21% to Rs 2.14 lakh crore due to over 30% growth in loans in the passenger vehicle, MSME and gold loan segments which helped increased the net interest income (NII) by 17% to Rs 5,275 crore in December 2023.
Shriram Finance raises $750 million via Social Bonds thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Funds raised by India Inc. through offshore loan syndication hit a 15-year high in 2023 with companies and banks raising $21.4 billion, the highest since 2007.
The momentum is expected to continue in 2024 as well with over $4 billion fund raising expected in the first three months of this year.
Companies raise funds, both onshore and offshore, depending on interest rates and activities. Funds raised offshore can be deployed in overseas activities.