Shriram Finance Shares Surge 11% Following Equity Allotment Announcement
Shriram Finance rallies 11%, leads gains among Nifty50 universe; here's why
Business Standard
Image: Business Standard
Shares of Shriram Finance, a non-banking financial company in India, rose by 11.26% to an intraday high of ₹1,035.45 after announcing the allotment of equity shares to MUFG Bank. Despite the rise, the shares remain 6.54% below their 52-week high of ₹1,108.00.
- 01Shriram Finance shares surged 11.26% after announcing equity share allotment to MUFG Bank.
- 02The stock reached an intraday high of ₹1,035.45 on the NSE.
- 03Currently, shares are 6.54% below their 52-week high of ₹1,108.00.
- 04The company allotted 47,11,21,055 equity shares at an issue price of ₹840.93 each.
- 05The allotment has received approval from the National Stock Exchange and BSE.
Advertisement
In-Article Ad
Shares of Shriram Finance, a prominent non-banking financial company in India, experienced a significant increase of 11.26%, reaching an intraday high of ₹1,035.45 on the National Stock Exchange (NSE) on Wednesday. This surge follows the company's announcement regarding the allotment of 47,11,21,055 fully paid-up equity shares to MUFG Bank at an issue price of ₹840.93 per share. Despite this upward movement, the shares remain 6.54% below their 52-week high of ₹1,108.00, achieved on February 26, 2026. As of 2:12 PM, the shares were trading at ₹1,028.40, reflecting a 10.50% increase from the previous close of ₹930.65. The overall market also saw gains, with the NSE Nifty50 index up by 848 points or 3.67%. The allotment of shares has been approved by the National Stock Exchange of India Limited and BSE Limited, and the company plans to apply for listing and trading approval for the newly allotted shares in due course.
Advertisement
In-Article Ad
The rise in Shriram Finance shares could enhance investor confidence and potentially lead to increased investment in the company, benefiting existing shareholders.
Advertisement
In-Article Ad
Reader Poll
Do you think Shriram Finance's stock will reach its 52-week high again?
Connecting to poll...
More about Shriram Finance
MUFG Bank Invests ₹39,618 Crore for 20% Stake in Shriram Finance, Shares Surge
Business Standard • Apr 8, 2026
Strategies for Protecting Retirement Savings Amid Market Volatility
Mint • Apr 6, 2026
Antique Stock Broking Initiates 'Buy' Rating for Shriram Finance, Projects 28% Upside
Business Standard • Apr 2, 2026
Read the original article
Visit the source for the complete story.