MUMBAI : Shriram Transport Finance Co. Ltd.(STFC) is looking to raise ₹3,000-4,000 crore via a qualified institutional placement (QIP) or preferential allotment to augment liquidity, two persons with direct knowledge of the matter said, adding that the company has met more than a dozen potential investors for the same.
It is to be seen whether the fund-raising eventually goes through, given the stagnating economic environment and the uncertainty over the financial sector’s balance-sheet stress. “The QIP will be done through a fresh issuance of equity shares.
Investment bankers are likely to be appointed this week. The capital is primarily meant to preserve liquidity in hand," said the first person.