Shriram City Union Finance will raise Rs 500 crore by issuing debt securities on private placement basis. 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 the Banking and Securities Management Committee of the board of directors in its meeting on December 1.
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.
