Shriram Transport Finance Company has raised funds worth Rs 100 crore on private placement basis. The Allotment Committee - NCDs of the company in its meeting held on March 13, 2018, approved and allotted 1,000 Secured Redeemable Rated Listed Non-Convertible Debentures (NCDs) of face value of Rs 10,00,000 each, aggregating to Rs 100 crore.
Shriram Transport Finance Company 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.