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Shriram Transport Fin NCD issue opens on June 27

Our Bureau Mumbai | Updated on June 21, 2011




Shriram Transport Finance's Non-Convertible Debentures issue of Rs 1,000 crore will consist of units of face value of Rs 1,000 each.

The issue opens on June 27 and closes on July 9. The coupon rate will be 11-11.6 per cent.

“Investors should be assured about the security of their money as our non-performing loans are 0.38 per cent and we have a high credit rating,” said Mr R. Sridhar, Managing Director, Shriram Transport Finance.

The NCD issue will raise Rs 500 crore with an option to retain an over-subscription of an additional Rs 500 crore.

The company plans to utilise the funds to repay loans and for business operations, including capital expenditure and working capital requirements.

JM Financial Consultants and ICICI Securities are the lead managers to the issue. RR Investors Capital Services and Karvy Investor Services are the co-lead managers to the issue. Integrated Enterprises is the registrar to the issue.

Published on June 21, 2011

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