Wednesday , October 20 2021

Shriram Transport Finance to raise Rs 1350 crore through NCDs

Shriram Transport Finance Company has proposed to raise up to Rs 1350 crore through secured redeemable non-convertible debentures (NCDs) of the face value of Rs 1,000 each. The NCDs have a fixed rate of interest, with seven different series. The NCDs have tenures of three, five and 10 years, with monthly, annual and cumulative payment options. The NCDs will be listed on the BSE and National Stock Exchange.

The issue will open for public subscription on October 15 and is scheduled to close on October 29. It is part of the company’s Tranch 2 issue of NCDs, with a base size of Rs 300 crore and an option to retain up to Rs 1050 crore from oversubscription.

Axis Bank, A K Capital Services, Edelweiss Financial Services, JM Financial, and Trust Investment Advisors have been appointed as lead managers to the issue.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.

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