Markets

Shriram City reserves 60% of NCD for retail investors

Our Bureau Mumbai | Updated on November 15, 2017


Shriram City Union Finance Ltd has reserved 60 per cent of its proposed Rs 375-crore non-convertible debenture (NCD) for retail investors.

To attract retail investors with an appetite of less than Rs 5 lakh, it offers a higher coupon of 12.10 per cent for 5 years and 11.65 per cent for 3 years. For retail investors who wish to invest more than Rs 5 lakh, the company is offering a coupon rate of 11.85 per cent for 5 years and 11.60 per cent for 3 years.

It is offering lower coupon rates to institutional investors at 11.6 per cent for 5 years and 11.5 per cent for 3 years. The company has a green-shoe option of an additional Rs 375 crore. The issue opens on August 11 and closes on August 27, with an option of early closure.

Published on August 08, 2011

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