Shriram City Union Finance is planning to raise funds on a private placement basis to raise up to Rs 500 crore. The company intends to issue and allot on private placement basis 5,000 number of secured non-convertible redeemable debentures of face value of Rs 10 lakh each aggregating to Rs 500 crore. The proposal is to be considered by Banking and Securities Management Committee of the Board of Directors in its meeting to be held on October 17, 2017.
Shriram City Union Finance is engaged in non-banking financial services. The Company provides long-term home loans. It also offers a range of options for financing the purchase of two wheeler vehicles across manufacturers and brands.
