Shriram City Union Finance is all set to mop up Rs 500 crore through issue of secured non-convertible debentures (NCD). These NCDs are proposed with a face value of Rs 1,000 each and the public issue will open on September 12. Rating agency, CRISIL has rated ‘AA-/Stable’ and CARE rated ‘AA’ to the issue. The NCDs are proposed to be listed on the NSE and BSE.
The proceeds from the issue will be used to finance various financing activities and to repay their existing loans of the company. JM Financial Institutional Securities, A K Capital Services and Edelweiss Financial Services are the lead managers to the issue, while Integrated Enterprises (India) is the registrar.
Shriram City Union Finance has presence in the following business segments - loan Against Gold (LAG), Small Business Finance Loans (SBF), Auto Loans, 2-Wheeler loans, Personal Loans and Consumer Durables Loans.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 908.70 |
| Shriram Finance | 1036.50 |
| Aditya Birla Capital | 340.20 |
| Chola Invest & Fin. | 1579.65 |
| Tata Capital | 337.60 |
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