Shriram City Union Finance to raise Rs 400 cr

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New Delhi, Apr 4 (UNI) Shriram City Union Finance Ltd (SCUF) today said it will raise Rs 400 crore through preferential allotment of equity shares and optionally convertible warrants.

The total investment in the company in the first round will be Rs 157 crore, which will go up by another Rs 243 crore if the option is exercised within 12 months by the investors.

''This infusion of equity will augment the Tier-I capital of the company and will help Shriram City Union Finance in its ambitious growth plans for the next 3 to 5 years,'' company's Executive Director Subhasri Sriram said.

The Board of Directors today approved the proposed allotment of 12,50,000 equity shares to Bessemer Venture Partners and/or its affiliates, 7,50,000 equity shares to ICICI Venture and/or its affiliates, 6,62,500 equity shares to Chrys Capital and/or its affiliates, 5,87,500 equity shares to Asia Bridge and/or its affiliates, all at a price of Rs 400 per equity share.

The board also approved the issue of 12,50,000 warrants to Bessemer Venture Partners and/or its affiliates, 7,50,000 warrants to ICICI Venture and/or its affiliates, 6,62,500 warrants to Chrys Capital and/or its affiliates, 5,87,500 warrants to Asia Bridge and/or its affiliates, 35,00,000 warrants to Shriram Retail Holdings Pvt Ltd at a subscription price of Rs 40 for each warrant conferring an option to the holder to subscribe to one equity share per warrant at an exercise price of Rs 400 per warrant.

UNI SBA BJR DB2054

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