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Pre-owned vehicle financier Shriram Transport Finance Corporation has said that it will raise Rs 750 crore through public issue of non convertible debentures (NCDs).
The issue will be open to retail investors, institutional investors and non-institutional investors.
The issue, which will give an interest rate of 9.4-9.8 per cent depending on the type of investor and tenure, will be open from July 16-29.
The NCDs will be issued at a face value of Rs 1,000 each. Initially, STFC will raise Rs 375 crore and will have the option to retain an oversubscription of up to Rs 375 crore.
The NCDs will be listed on the National Stock Exchange and the Bombay Stock Exchange.
>satyanarayan.iyer@thehindu.co.in
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