iris - 07 June, 2006

Goldman Sachs increases its stake in Shriram Transport

Goldman Sachs Investments (Mauritius) I has acquired 79,761 shares aggregating to 0.05% of the total share capital of Shriram Transport Finance Company on May 10, 2006.

The mode of acquisition is market purchase and the shareholding of Goldman Sachs Investment (Mauritius) I after the said acquisition is 7,594,266 shares aggregating to 5.04% of the total share capital of Shriram Transport Finance Company

Incorporated in 1979, Shriram Transport Finance Company (STFC) is promoted by Shriram Transport Group. The company is engaged in hire purchase and lease financing.

Shriram is the only group, which is lending on a large scale to small lorry operators having one or two trucks. The company has a network of 200 locations, which facilitate in lending and collection of installments from lorry operators. STFC is also strong in second hand truck finance