Shriram Transport Finance has received approval to raise funds aggregating to Rs 150 crore through allotment of 1500 Rated Listed Secured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 10 lakh on private placement basis. The date of allotment is December 06, 2018. The tenure of the instrument is 3 Years, 4 Months and 9 days from the date of allotment.
The Banking and Finance Committee of the Company at its meeting held on December 06, 2018 has approved the same.
Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.