Shriram Transport to raise Rs 700 cr through NCDs

Chennai: Shriram Transport Finance Company Limited, has announced a proposal of public issue of upto Rs 700 crore by issuing Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each.

The company is coming out with its Tranche 3 Issue of NCDs having a base size of Rs 200 crore with an option to retain additional amount up to Rs 500 crore from oversubscription, if any, aggregating to a Tranche 3 Issue Size of upto Rs 700 crore.

The Issue will open for subscription on 7 January and is scheduled to close on 31 January, with an option of early closure, and/or extension, as may be decided by the Board of Directors of our Company or duly constituted committee Debt Issuance Committee- Public NCDs as mentioned in the Tranche 3 Prospectus.

The funds raised through this 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.

NT Bureau