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Shriram Transport Finance raises Rs 87 crore on private placement basis

16 Mar 2018 Evaluate

Shriram Transport Finance Company has raised funds worth Rs 87 crore on private placement basis. The Allotment Committee - NCDs of the company in its meeting held on March 16, 2018, has approved and allotted 870 Secured Redeemable Rated Listed Non-Convertible Debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 87 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.

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