Shriram Transport Finance Company has raised Rs 35 crore on private placement basis. The Allotment Committee - NCDs of the company in its meeting held on December 5, 2017, approved and allotted 350 Unsecured Redeemable Rated Non-Convertible Subordinated Debt of face value of Rs 10 lakh each, aggregating to Rs 35 crore.
Shriram Transport Finance is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC. The company was with an objective to provide hire purchase and lease finance for the medium and heavy commercial vehicles to individual truck operators.