SHRIRAMFIN

Oct 31 (Reuters) - Shriram Finance Ltd SHMF.NS:

• Q2 PROFIT 23.07 BILLION RUPEES; IBES EST. 22.29 BILLION RUPEES

• Q2 INTEREST INCOME 115.51 BLN RUPEES

• DIVIDEND 4.8 RUPEES PER SHR

• APPROVED RESOURCE MOBILISATION PLAN INCLUDING ISSUANCE OF NCDS

• APPROVED ISSUANCE OF DEBENTURES ON PRIVATE PLACEMENT BASIS

Source text: [ID:]

Further company coverage: SHMF.NS

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MUMBAI, Oct 24 (Reuters) - India's Shriram Finance SHMF.NS plans to raise 15 billion rupees ($170.7 million), including a greenshoe option of 7.5 billion rupees, through the reissue of 8.70% April 2028 bonds, three bankers said on Friday.

It has invited coupon and commitment bids for the issue on Monday, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on October 24:

*Size includes base plus greenshoe for some issues

($1 = 87.8950 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

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Oct 14 (Reuters) - Shriram Finance Ltd SHMF.NS:

• TO CONSIDER RESOURCE MOBILISATION PLAN FOR DEBT SECURITIES

Source text: ID:nBSE1q4ZQk

Further company coverage: SHMF.NS

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Oct 8 (Reuters) - Tata Capital's TATC.NS $1.75 billion public share sale was fully subscribed on Wednesday, the final day of a three-day bidding process, as investors lined up for India's biggest offering this year amid a rush of new listings.

The Mumbai-based financial services company raised $523.2 million from anchor investors, including LIC and Norway's wealth fund last week, and is seeking a valuation of up to $15 billion.

The Tata Group company is India's third-largest non-bank lender in terms of revenue, trailing Shriram Finance SHMF.NS and Bajaj Finance BJFN.NS, which holds the top position.

The IPO comes at a bustling time for domestic listings, with the October-December quarter set to see $8 billion worth of fundraising, likely to be the second busiest on record.

(Reporting by Yagnoseni Das in Bengaluru; Editing by Rashmi Aich and Harikrishnan Nair)

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Adds Shriram Finance filing saying media report was 'speculation' in paragraph 6 and shares move in paragraph 10

Oct 1 (Reuters) - Japan's Mitsubishi UFJ Financial Group 8306.T is in advanced talks to buy a 20% stake in Indian non-banking finance company Shriram Finance SHMF.NS for 232 billion rupees ($2.61 billion), the Economic Times reported on Wednesday, citing people familiar with the matter.

A deal would mark the latest move by a Japanese financial institution to acquire a stake in an Indian firm, following the banking arm of rival Sumitomo Mitsui Financial Group 8316.T building a 24.2% holding in Mumbai-based Yes Bank YESB.NS.

Facing a shrinking domestic market and years of rock-bottom interest rates, Japan's biggest banks have enthusiastically sought out targets overseas over many years.

MUFG - Japan's largest lender by assets - owns a 23.62% stake in Wall Street investment bank Morgan Stanley MS.N.

The Japanese bank declined to comment on the report, while Shriram Finance did not immediately respond to a Reuters request for comment.

Shriram Finance, in an exchange filing on September 30, said it had received a media query regarding a potential majority stake sale and dismissed the report as speculation. It said it had no knowledge of any deal or any shareholder intent to sell.

The investment will be through a primary issuance via a preferential allotment and will not entail any secondary sale of shares, the newspaper said, adding that both MUFG and Shriram Finance have signed an exclusivity agreement on negotiations.

The Tokyo-based banking leader is, however, not averse to taking a higher stake in the company or even a controlling interest, over time, the report said.

Shriram Finance reported an 8.8% year-on-year rise in standalone profit of 21.56 billion rupees for the quarter ended on June 30. Its results were slightly below the analysts' average estimate of 21.91 billion rupees, according to data compiled by LSEG.

Shriram Finance shares listed on the National Stock Exchange of India rose 3.5% on Wednesday after the Economic Times report.

($1 = 88.8040 Indian rupees)

(Reporting by Gnaneshwar Rajan, Mrinmay Dey, Yagnoseni Das in Bengaluru and Anton Bridge in Tokyo; Editing by Subhranshu Sahu, Muralikumar Anantharaman and Tom Hogue)

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** Shares of Shriram Finance Ltd SHMF.NS climb 2.1% to 633.05 rupees

** Stock leads weekly gains among Nifty 50 .NSEI constituents with 6.8% jump

** CLSA maintains "outperform" rating, PT of 735 rupees; non-bank lender tells analysts at the brokerage it expects better performance in H2 of FY26

** SHMF says medium and small businesses, gold, and car loan portfolios to drive growth in medium term

** SHMF's low exposure to export-oriented enterprises and stable asset prices provides comfort on asset quality - CLSA

** Analysts tracking SHMF rate it "buy" on avg, median PT of 32 analysts is 730 rupees - data compiled by LSEG

** Stock up 9.5% YTD, tops Nifty 50's 6.3% climb

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of Shriram Finance Ltd SHMF.NS climb 2.7% to 632.40 rupees

** Stock top pct gainer on blue-chip Nifty 50 .NSEI index, which is down 0.2%

** Jefferies ("buy", PT: 800 rupees) analysts say they liked non-bank lender's steady loan growth and asset quality in Q1

** SHMF's valuations appear reasonable, they add

** HSBC ("buy". PT: cuts to 730 rupees) says SHMF's large book of fixed rate loans makes it "a significant beneficiary of falling (repo) rate environment"

** ICICI Securities ("hold", PT: 640 rupees) says credit cost moderation in a challenging quarter for SHMF "reflects its business resiliency and risk management"

** Analysts tracking stock rate it "buy" on average; median PT is 734 rupees - data compiled by LSEG

** Stock up 9.5% so far this year, outperforming Nifty 50's 4.9% climb

(Reporting by Nandan Mandayam in Bengaluru)

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July 25 (Reuters) - India's Shriram Finance SHMF.NS posted a smaller-than-expected first-quarter profit on Friday.

The non-banking finance company (NBFC) reported an 8.8% year-on-year rise in standalone profit at 21.56 billion rupees ($249.01 million) for the quarter ended June 30.

Analysts, on average, had expected a profit of 21.91 billion rupees, according to data compiled by LSEG.

($1 = 86.5830 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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July 15 (Reuters) - Shriram Finance Ltd SHMF.NS:

• TO CONSIDER PERIODICAL RESOURCE MOBILISATION PLAN FOR ISSUANCE OF DEBT SECURITIES

Source text: ID:nBSE7xd02L

Further company coverage: SHMF.NS

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July 11 (Reuters) - Shriram Finance Ltd SHMF.NS:

• TO PURCHASE OUTSTANDING NON-CONVERTIBLE DEBENTURES WITHIN SPECIFIED LIMITS

Source text: ID:nBSE2FJ3tp

Further company coverage: SHMF.NS

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July 8 (Reuters) - Shriram Finance Ltd SHMF.NS:

• TO CONSIDER PURCHASE/REPURCHASE OF OUTSTANDING NCDS

Source text: ID:nnAZN44KHJF

Further company coverage: SHMF.NS

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MUMBAI, June 27 (Reuters) - India's Shriram Finance SHMF.NS has accepted bids worth 4.85 billion rupees ($56.7 million) for the reissue of 9.2330% May 2027 bonds, three merchant bankers said on Friday.

The non-banking finance company will offer a yield of 7.75% and had invited bids from bankers and investors earlier in the day, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on June 27:

*Size includes base plus greenshoe for some issues

($1 = 85.4870 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

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MUMBAI, June 26 (Reuters) - India's Shriram Finance SHMF.NS plans to raise 5 billion Indian rupees ($58.22 million) for the reissue of 9.2330% May 2027 bonds, three merchant bankers said on Thursday.

The non-banking finance company will offer a yield of 7.75% and has invited bids from bankers and investors on Friday, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on June 26:

*Size includes base plus greenshoe for some issues

($1 = 85.8800 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Vijay Kishore)

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** Motilal Oswal raises PT on Shriram Finance SHMF.NS by 23% to 800 rupees, implying a 24.5% upside to current price

** Brokerage reiterates stock as top pick in the non banking finance segment

** Says, it expects transitory issues such as asset quality issues and net interest margin compression to gradually subside for SHMF

** Adds, SHMF's execution on growing its assets under management and maintaining asset quality has been far ahead of peers

** Says FY26 outlook for co looks better amid expectations of an economic revival supported by high government capex

** Expects diversification from automotive lending into other high growth segments to yield margin improvement

** On the day SHMF down ~1% to 642.5 rupees

** SHMF shares have risen ~42% in the last 12 months

(Reporting by Ananta Agarwal in Bengaluru)

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MUMBAI, May 22 (Reuters) - India's Shriram Finance SHMF.NS has accepted bids worth 5 billion rupees ($58.2 million) for the reissue of 8.70% April 2028 bonds, three merchant bankers said on Thursday.

The non-banking finance company will offer a yield of 8.1295% and had invited bids from bankers and investors earlier in the day, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on May 22

* Size includes base plus greenshoe for some issues

($1 = 85.9000 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)

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By Dharamraj Dhutia

MUMBAI, April 30 (Reuters) - Indian companies, led by state-run firms, have accelerated their plans to raise debt from the markets as the central bank's fresh bond purchase scheme surprised markets and pushed borrowing costs lower.

Four Indian state-run firms - Power Finance Corp PWFC.NS, NHPC, IREDA and HUDCO - are set to raise an aggregate of 125 billion rupees ($1.5 billion) and have invited bids on Wednesday and Friday.

They did not immediately reply to a Reuters email seeking comment.

State-run firms have already raised around 393 billion rupees via bonds earlier this month.

"The recent rush of issuances by state-run firms looks like a well-timed move to benefit from softening yields after the Reserve Bank of India's bond buying announcement," Suresh Darak, founder of Bondbazaar, an online bond trading platform.

On Monday evening, the RBI announced it plans to buy bonds worth 1.25 trillion rupees through open market purchases, after picking up bonds worth 1.20 trillion rupees in April.

AAA-rated corporate bond yields across the curve have eased by around 5-10 basis points since then, and spreads with government bond yields have shrunk further.

"By front-loading borrowings, these companies are locking in lower funding costs; (it) reflects smart liability management," Darak said.

Including these issuances, state-run firms have raised around 518 billion rupees - more than five times the roughly 100 billion rupees that such companies raised in April 2024.

It also constitutes more than 50% of the total funds raised by companies in the first five weeks of the current fiscal 2026.

"Issuers want to take advantage of the fall in yields, and that is a primary driver that they are rushing to issue debt," said Umesh Khandelwal, chief business officer at Tipsons Group.

For context, all debt fundraises in the first five weeks of fiscal 2025 came up to 450 billion rupees.

Apart from these firms, non-banking finance companies have also been major issuers, including Shriram Finance and Bajaj Finance.

Among the borrowers hitting the market this week, PFC is raising 35 billion rupees through zero-coupon deep-discount bonds with a maturity of 10 years and one month. Traders are anticipating aggressive demand for this issue.

($1 = 85.1140 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

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** India's Shriram Finance SHMF.NS drops 8.2% to 601.25 rupees, set for its third straight losing session

** The non-bank lender missed fourth-quarter profit estimates on Friday with asset quality deteriorating

** Jump in credit costs and net interest margin under pressure was "unexpected", say HSBC Global Research analysts

** Asset quality pressures have driven credit costs higher, says Nomura

** However, HSBC analysts add that while SHMF's near-term earnings are in pressure, earnings growth and profitability are "healthy" on a two-year compound annual growth rate basis

** Stock trims YTD gains to 5% vs Nifty 50 .NSEI index's 2% climb

(Reporting by Kashish Tandon in Bengaluru)

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April 25 (Reuters) - Shriram Finance Ltd SHMF.NS:

• SHRIRAM FINANCE LTD - DIVIDEND 3 RUPEES PER SHARE

• SHRIRAM FINANCE LTD - APPROVED RESOURCE MOBILISATION PLAN FOR FINANCIAL YEAR 2025-26

• SHRIRAM FINANCE Q4 PROFIT 21.39 BILLION RUPEES; IBES EST. 22.24 BILLION RUPEES

• SHRIRAM FINANCE Q4 INTEREST INCOME 107.9 BILLION RUPEES

Source text: ID:nBSEm9682

Further company coverage: SHMF.NS

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April 10 (Reuters) - Shriram Finance Ltd SHMF.NS:

• EXPLORING POSSIBILITIES FOR RAISING FUNDS

• CONSIDERING RAISING FUNDS VIA ISSUE OF QIP OR ANY OTHER EQUITY LINKED SECURITIES

Source text: ID:nBSE75L26Q

Further company coverage: SHMF.NS

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MUMBAI, April 8 (Reuters) - India's Shriram Finance SHMF.NS has accepted bids worth 17.15 billion rupees ($199.29 million) for bonds maturing in three years, and five years and three months, three merchant bankers said on Tuesday.

The non-banking finance company will pay an annual coupon of 8.60% for both notes and had invited bids from bankers and investors for the options earlier in the day, they said.

Shriram Finance did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 8:

*Size includes base plus greenshoe for some issues

($1 = 86.0575 Indian rupees)

(Reporting by Khushi Malhotra; Editing by Janane Venkatraman)

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MUMBAI, April 7 (Reuters) - India's Shriram Finance SHMF.NS plans to raise 37.50 billion rupees ($438.1 million), including a greenshoe option of 30 billion rupees, through a sale of bonds maturing in three years, as well as five years and three months, three merchant bankers said on Monday.

The non-banking financial company has invited bids from bankers and investors for both the options on Tuesday, they said.

Shriram Finance did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 7:

*Size includes base plus greenshoe for some issues

($1 = 85.6050 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra
Editing by Eileen Soreng)

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April 1 (Reuters) - Shriram Finance Ltd SHMF.NS:

• SHRIRAM FINANCE LTD - RBI APPROVES SHRIRAM FINANCE'S 100% ACQUISITION OF SOIPL

Source text: ID:nNSE3kjG7X

Further company coverage: SHMF.NS

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March 17 (Reuters) - Shriram Finance Ltd SHMF.NS:

• SHRIRAM FINANCE LTD - RAISES OVER USD 306 MILLION FROM DEVELOPMENT FINANCIAL INSTITUTIONS

Source text: [ID:]

Further company coverage: SHMF.NS

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Corrects to Thursday from Wednesday in first paragraph

Feb 27 (Reuters) - Shares of most Indian financial companies, especially those of non-bank and microfinance-focussed lenders, jumped on Thursday after the central bank further eased its capital requirements for micro loans and bank credit.

Financial stocks .NIFTYFIN, which include non-bank finance companies (NBFCs), jumped about 1%, outpacing the 0.7% increase in banking stocks .NSEBANK. The benchmark Nifty 50 .NSEI, in comparison, was flat.

The Reserve Bank of India, on Tuesday, trimmed the higher capital requirements introduced in November, the latest in a series of growth-supportive measures since Sanjay Malhotra took over as governor in December.

Under his watch, the RBI has eased liquidity, delayed some regulations and loosened restrictions placed on some lenders.

"We think this bodes well for the financial sector and lays more emphasis on consumption and growth ... and (we) reiterate our bullish view," Macquarie analyst Suresh Ganapathy said in a note.

On the day, Bandhan Bank BANH.NS gained 6%, while Shriram Finance SHMF.NS, AU Small Finance Bank AUFI.NS and Ujjivan Small Finance Bank UJJI.NS rose about 5% each.

Cholamandalam Investment and Finance CHLA.NS and Aditya Birla Capital ADTB.NS advanced 4.5% each. Bajaj Finance BJFN.NS rose 2.7% and IndusInd Bank INBK.NS gained 2%.

In comparison, top private lenders such as ICICI Bank ICBK.NS and HDFC Bank HDBK.NS were up under 1%.

The RBI's move should help most NBFCs' earnings, Morgan Stanley analysts said, picking Aditya Birla Capital, PNB Housing, Shriram Finance and Bajaj Finance as top beneficiaries.

Nomura analysts said banks with higher microfinance loan exposure, such as Bandhan Bank, IndusInd and AU Small Finance Bank, would also get much needed relief.

Since the rules were implemented in November, Aditya Birla Capital's shares had slid 16%, while AU Small Finance Bank and IndusInd Bank sank 28% and 31%, respectively. The worst hit, with a 38% tumble, was Bandhan Bank -- the day's top gainer.

However, Axis Bank Chief Economist Neelkanth Mishra cautioned that a reversal in the broad-based slide in loan growth -- caused by high liquidity costs and the RBI's discomfort with high loan-to-deposit ratios -- could take time.

"While these (RBI) signals should help revive lending, we believe the binding constraint remains durable liquidity."

(Reporting by Sethuraman NR; Editing by Savio D'Souza)

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Feb 14 (Reuters) - Shriram Finance Ltd SHMF.NS:

• RBI: IMPOSES PENALTY OF 580,000 RUPEES ON SHRIRAM FINANCE

Source text: [ID:]

Further company coverage: SHMF.NS

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Feb 13 (Reuters) - Shriram Finance Ltd SHMF.NS:

• AVAILS SACE EXTERNAL COMMERCIAL BORROWING LOAN FACILITY

• RAISES OVER USD 500 MILLION EQUIVALENT SACE COVERED LOAN FACILITY

Source text: ID:nNSE8zVpty

Further company coverage: SHMF.NS

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By Siddhi Nayak

MUMBAI, Feb 11 (Reuters) - Indian non-bank lender Shriram Finance SHMF.NS aims to boost its green portfolio 20-fold over the next three years as it diversifies its loan book, a top official said on Tuesday.

"We are planning to add solar panels and similar sectors to our portfolio," Executive Vice Chairman Umesh Revankar said in an interview.

Shriram Finance aims for a green financing book of 50 billion rupees (about $576 million) against about 2.5 billion rupees to 3 billion rupees right now, which comprises small-ticket two-wheeler and three-wheeler vehicle loans.

Green finance, which is financing of businesses that support environmentally friendly and sustainable projects, has struggled to pick up in India due to limited awareness, high transaction costs, and limited access to affordable green technologies.

The government provides tax incentives and subsidies for renewable energy projects, which make them more attractive to lenders.

For Shriram Finance, the electric vehicle and battery segments are likely to grow given the new offerings in the market, Shriram Finance's Revankar said.

The non-bank finance company aims to double its overall loan book as well as its assets under management (AUM) by 2030, he said.

Shriram's total loans stood at 2.51 trillion rupees at December-end while the AUM was at 2.54 trillion rupees.

Assets under management should rise 15% in both the current and next financial years, the official said, as the firm focusses on medium and small enterprises while issuing more vehicle and tractor loans, Revankar said.

"We want to understand those (small) businesses, the ability to repay and how to manage collections," he said. "We want to grow this business at a minimum 20% next year onwards."

Small business loans made up nearly 14% of Shriram Finance's AUM in the October-to-December quarter, while commercial and passenger vehicle loans made up about 46% and 20%, respectively.

Shriram Finance may look to tap the dollar bond route for at least $750 million in the next fiscal year depending on market conditions, Revankar said.

($1 = 86.7480 Indian rupees)

(Reporting by Siddhi Nayak; Editing by Mrigank Dhaniwala)

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MUMBAI, Jan 24 (Reuters) - India's Shriram Finance SHMF.NS plans to raise 7.50 billion rupees ($87 million), including a greenshoe option of five billion rupees, through reissue of 9.10% March 2027 bonds, three merchant bankers said on Friday.

The non-banking financial company has invited bids from bankers and investors for the reissue on Monday, they said.

Shriram Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Jan. 24:

*Size includes base plus greenshoe for some issues

($1 = 86.1940 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

(([email protected]))

Jan 16 (Reuters) - QATAR INVESTMENT AUTHORITY:

• QIA INVESTS IN ONE OF INDIA’S AFFORDABLE HOUSING FINANCE COMPANIES, ALONGSIDE WARBURG PINCUS AND OTHERS

• SHRIRAM HOUSING FINANCE​ ANNOUNCED LAUNCH OF ITS NEW BRAND IDENTITY - TRUHOME FINANCE

• AS PART OF AGREEMENT, SHRIRAM FINANCE GROUP RECEIVED AN INVESTMENT OF ₹1,225 CRORE

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MUMBAI, Jan 13 (Reuters) - India's Shriram Finance SHMF.NS has accepted bids worth 7.85 billion rupees ($90.9 million) for the reissue of 9.10% March 2027 and 8.9043% January 2030 bonds, three merchant bankers said on Monday.

The non-banking finance company had invited bids from bankers and investors for the reissues on Friday, they said.

Shriram Finance did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Jan. 13:

*Size includes base plus greenshoe for some issues

($1 = 86.3550 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

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