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Shriram Finance Limited (SFL), the flagship company of the Shriram Group, has secured $306 million in the form of external commercial borrowings (ECB) from various multilateral and bilateral development financial Institutions, it announced on Monday.
The latest facility, availed under SFL’s Social Finance Framework, saw participation from leading global financial institutions, including the Asian Development Bank (ADB), Japan International Cooperation Agency (JICA), and Exim Bank of India (EXIM) with a long tenor financing.
With this latest transaction, SFL has raised over $2.8 billion in offshore funding in the current financial year. Last February, it secured a $500-million ECB loan under a SACE push loan facility and $1.2 billion in a multi-currency social loan in December.
“By forging partnerships with esteemed global institutions like ADB, JICA, and EXIM, we are expanding our ability to empower MSMEs, support green financing, and drive economic progress,” said Umesh Revankar, executive vice-chairman of Shriram Finance Limited.
Shriram Finance is one of India’s largest retail asset financing non-banking finance companies with assets under management above Rs. 2.54 trillion. Established in 1979, Shriram Finance offers financing for passenger commercial vehicles, tractors and farm equipment, gold, loans to micro and small and medium enterprises, personal loans and working capital loans, etc.
The company boasts of a pan-India presence with a network of 3,196 branches and an employee strength of 79,405 servicing 94.36 lakh customers.
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