SHRIRAMFIN

m Finance share price pares morning loss after announcement of fundraise

Finance share price recouped its earlier losses during Thursday's trading session and showed slight gains in the latter half after the Non-Banking Financial Company (NBFC) announced it will utilise the SACE External Commercial Borrowing Loan Facility exceeding USD 500 million. The company announced in its exchange filing that it has secured a significant External Commercial Borrowing (ECB) SACE Push loan facility. This deal marks the biggest loan facility covered by SACE, an Italian export credit agency governed by Italy's Ministry of Economy & Finance, ever obtained by a NBFC in India. According to the filing, this facility with a long tenor of 10 years is supported by SACE and emphasizes a robust global collaboration focused on fostering the financing of both new and used Italian vehicles, aligned with Shriram Finance’s Social Finance Framework.