Shriram Finance secures $ 100 Mn loan from Asian Development Bank
- ByStartupStory | December 30, 2022
NBFC Shriram Finance Ltd announced on Friday that it had secured a $100 million five-year loan from the Asian Development Bank to provide credit to its customers for the purchase of new and used vehicles across India.
Besides providing financial support to women Entrepreneurs and under-developed states, the company said, proceeds would be used for “vehicle finance for commercial purposes for BS VI compliant vehicles and electric vehicles”
Shriram Finance, which manages approximately Rs 1.71 trillion in assets, also announced earlier this year that it had raised $250 million from the US Development Finance Corporation and $475 million from the international market through a 144A Bond.
The lender is a merged entity of Shriram City Union Finance and Shriram Transport Finance.
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