Shriram Transport Finance planning to raise Rs 10,000 crore via public issuance of bonds
16th Jul 2019

Shriram Transport Finance Company is planning to raise up to Rs 10,000 crore through public issuance of bonds. The company would come out with the first tranche of secured redeemable non-convertible debentures (NCDs) of face value of Rs 1,000 each having a base size of Rs 300 crore. The issue will open for subscription on July 17, 2019 and close on August 16, 2019, with an option of early closure or extension.

The funds raised through the tranche 1 issue will be used for onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of the company and for general corporate purposes.

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