Shriram Finance Raises USD 425M & Euro 40M To Empower Small Entrepreneurs in India

ENA Sectors 2024-06-04 17:30:29 New Delhi, Jun 4 (KNN) Shriram Finance Ltd., the flagship firm of the Shriram Group, has raised USD 425 million and Euro 40 million through a syndicated term loan transaction, the largest such deal for an Indian private non-banking financial company (NBFC) in recent years. The funds raised through this landmark social loan will be primarily used to empower small entrepreneurs and vulnerable groups across India, the company said. The three-year external commercial borrowing facility, structured as a social loan, was anchored by BNP Paribas, DBS Bank, HSBC, and Sumitomo Mitsui Banking Corporation, who acted as joint mandated lead arrangers, bookrunners, and social loan coordinators. This facility is labelled as a social loan, reflecting our commitment to social impact similar to our priority sector initiatives, with certain strict exclusions, said Umesh Revankar, Vice Chairman of Shriram Finance. He emphasised that the funds will play a crucial role in supporting small entrepreneurs, who are the backbone of India's economy. Shriram Finance, with assets under management of Rs 2.25 lakh crore, offers a range of financial services, including loans for commercial vehicles, two-wheelers, cars, home loans, gold loans, personal loans, and small business loans. The transaction underscores the growing interest in sustainable finance and the company's efforts to drive positive social impact through its lending activities, with a particular focus on empowering small entrepreneurs across the country. (KNN Bureau) 38071 https://knnindia.co.in/news/newsdetails/sectors/shriram-finance-raises-usd-425m-euro-40m-to-empower-small-entrepreneurs-in-india 2024-06-04 17:30:29 knnindia.co.in Shriram Finance Raises USD 425M & Euro 40M To Empower Small Entrepreneurs in India