Shriram Finance plans to raise up to 15 billion from international markets according to the CEO

Indian non-banking lender Shriram Finance aims to raise up to $1.5 billion from overseas markets in the current fiscal year to diversify its borrowing sources, its CEO revealed to Reuters on Tuesday.

“We are looking to secure between $1.25 billion and $1.5 billion (in fiscal year 2024-25)” through a combination of loans and bonds, said CEO and Managing Director Y S Chakravarti.

Out of this target, the lender has already raised $300 million and plans to secure an additional $300 million to $350 million within the next couple of months. The fiscal year concludes on March 31.

In November last year, India’s central bank instructed all lenders to allocate more capital for loans issued to non-banking financial companies, such as Shriram Finance, making it more costly to raise funds from local banks. Read More -- https://voiceofentrepreneur.life/