Shriram Transport Finance Company Ltd (STFC), part of the Chennai-based, diversified Shriram Group of Companies, on Friday informed that it will raise Rs 50 crore through issue of non-convertible debentures (NCDs).

“The Allotment Committee-NCDs of the company at its meeting held today, approved and allotted 500 secured redeemable rated listed non-convertible debenture of face value of Rs 10,00,000 each, aggregating to Rs 50 crore on private placement basis,” the company said in a statement.

According to the statement, the NCDs with a zero coupon rate will have 3 years of tenure from the date of allotment.

Incorporated in 1979, Shriram Transport is classified as a deposit taking Asset Financing NBFC and it provides finance for the commercial vehicles and helps small truck owners for needs related to their assets. The company has an equity capital of Rs 226.91 crore.

Shares of the company closed trading in red at Rs 970, down 2.33% from the previous closing of Rs 993.15, on BSE today.

here is company details.

 

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