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Shriram Transport Finance Company Ltd. Company History and Annual Growth Details

YEAR EVENTS
1979 - The Company was Incorporated on 30th June, at Chennai. It was
promoted by R. Thyagarajan, A.V.S Raja and T. Jayaraman. The
Company provides hire purchase finance, and it confined its
operation to financing transport sector as the sector had been
registering consistent growth and also as trucks are assets
generating revenue on a continuous basis with almost zero
gestation period. The Company's operation are predominantly
based in S. India.

- The Company's object is providing hire purchase finance to
trucks.

- 50,000 shares subscribed for by signatories to Memorandum of
Association. 2,50,000 shares the issued at par, of which 70,000
shares were reserved and allotted to promoters, directors etc.
The remaining 1,80,000 shares offered to the public in February
1984.

1986 - During April, the company offered 36,000 - 15% secured fully
convertible debentures of Rs.100 each as Rights basis in the
prop. 6 debentures : 50 equity shares held.

- Simultaneously another 1,800 debentures were issued to the
employees on an equitable basis.

- Additional 7,200 debentures were allotted to retain
oversubscription. First, one-third face value conversion of
Rs.1.5 lakhs was made in October and accordingly 1,50,000 No. of
equity shares were allotted.

- The second one-third face value conversion of Rs.1.5 lakhs was
made in October 1987 and another 1,50,000 shares were allotted.

- The third one-third face value conversion of Rs.1.5 lakhs was
made in October 1988, and another 1,50,000 shares were allotted.

- 3,00,000 No. of equity shares allotted in part conversion of 15%
debentures.

1988 - Another 1,50,000 shares allotted in final conversion of 15% debs.
in October.

1990 - During September, the company offered, 1,32,026 - 14% secured
fully convertible debentures of Rs.150 each on Rights basis in
the prop. 1 debenture : 10 equity shares held (all were taken up)
Additional 19,804 debentures were allotted to retain
oversubscription.

- Simultaneous to the above issue, the Company issued through a
prospectus, 1,67,974 - 14% secured fully convertible debentures
of Rs.150 each of which the following were reserved for allotment
on a pref. basis.

- (i) 15,000 debentures to employees (only 190 debentures taken
up),

- (ii) 40,000 debentures to Public Financial Institutions Mutual
Funds. (all were taken up),

- The remaining 1,12,974 debentures along with 14,810 debentures
not taken up by employees were issued to the public (all were
taken up). Additional 25,196 debentures were allotted to retain
oversubscription.

- Rs.50 of the face value each debenture was converted into 5
equity shares of Rs.10 each at par on the expiry of 6 months from
the date of allotment of debentures. Accordingly 17,25,000 No.
of equity shares were allotted on 1st June, 1991.

- Rs.50 of the face value of each debenture was converted into 5
equity shares of Rs.10 each at the expiry of 15 months from the
date of allotment of debentures. Accordingly 17,25,000 shares
were allotted on 1.3.1992.

- The remaining Rs.50 of the face value of each debenture was
converted into 5 equity shares of Rs.10 each at par after 24
months from the date of allotment. Accordingly 17,20,420 shares
were allotted.

- During 1996-97, company has made rights cum public issue of FCDs
2596940 FCDs and 1937430 FCDs of Rs.50 each were allotted through
rights issue and public issue respectively in June 1997.

- The terms of these FCDs are as follows:

- Part A of Rs.10 will be converted into one equity share of Rs.10
each at par, at the end of 12 months from the date of allotment.
Part B of Rs.20 will be converted into two equity shares of Rs.10
each at par, at the end of 24 months from the date of allotment.
Part C of Rs.20 will be converted into two equity shares of Rs.10
each at par, at the end of 36 months from the date of allotment.

- 5,00,000 Rights equity shares allotted at par in prop. 2:3.
Additional 75,000 shares allotted to retain oversubscription.

1991 - 17,25,000 No. of equity shares of Rs.10 each allotted on full
conversion of 14% debentures.

1992 - 34,45,420 shares allotted on conversion of 14% debs.

1993 - A new product in the name of Lease Portfolio Management Scheme
was launched that enabled lending institution and manufacturing
companies avail the expertise and experience of the Company and
thereby make use the post-tax returns, management risks of the
transport finance business.

1994 - 64,84,910 rights shares of Rs.10 each issued on rights basis in
prop. 1:1.

1995 - 4369 Rights equity shares kept in abeyance issued.

2002

- Shriram Transport Finance Company Ltd has informed BSE that the Board at its meeting held on October 7, 2002 accepted the resignation of Sri G V Raman as Chairman and Director of the company.

2003

- Shriram Transport Finance Co. Ltd. has informed the Exchange that Mr. S Ranganathan has been inducted as a Nominee Director from Citicorp Finance (India) Ltd.

- Sri R Nagarajan has resigned from the Board of Directors of the Company

-Dr. T S Sethurathnam has been inducted as a Nominee Director from Indian Renewable Energy Development Agency Ltd at the Board Meeting held on November 28, 2003

2004

-Shriram Transport Finance Company Board approves issue of share on preferential basis

-UTI Bank in ally with Shriram Transport Finance, Shriram Investments

-Shriram Transport Finance - Netherlands Development signs term sheet agreements

2005

-Shriram Transport surges on Newbridge $100 m infusion

2006

- Shriram Transport Finance Company Ltd has informed that the following Additional Directors were inducted on the Board at the Board Meeting of the Company held on October 26, 2006:

1. Mr Adit Jain
2. Mr M S Verma
3. Mr Puneet Bhatia
4. Mr Mukund Manohar Chitale
5. Mr Ranvir Dewan

-Shriram Transport rolls out media campaign

-Newbridge acquires 49% stake in Shriram Holdings
-Shriram Transport signs Dharmendra as Brand Ambassador
-Goldman Sachs increases its stake in Shriram Transport
-STFC UTI LAUNCH CO-BRANDED CARD


2007

-Shriram Transport acquires 40pc stake in Ashley Transport
-Ashok Leyland brings STFC as strategic partner in Ashley Transport Services
-Shriram-UTI Bank Launches Credit Card

2008

-Shriram Transport Finance Company Ltd has informed that Fitch Ratings India has affirmed the AA(ind) National rating of Shriram Transport Finance Company Ltds (STFC) debenture programme for an additional amount of INR 20 billion.

2009

- Shriram Transport Finance Company Ltd has appointed Mr. S. Lakshminarayanan (IAS) as an Additional Director of the Company w.e.f. September 22, 2009.

-ICAI Award - Silver Shield for Excellence in Financial Reporting
-Best PE-Backed Company Award for 2008
 
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