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Shriram Transport Finance raises Rs 10 crore on private placement basis

20 Dec 2017 Evaluate

Shriram Transport Finance has raised Rs 10 crore on private placement basis. The Allotment Committee - NCDs of the Company in its meeting held on December 20, 2017, approved and allotted 100 Unsecured Redeemable Rated Non-Convertible Subordinated Debt of face value of Rs 10 lakh each, aggregating to Rs 10 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.

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