Shriram Transport Finance Company (STFC) has raised Rs 25 crore by issuing bonds on private placement basis. The allotment committee of the company in its meeting held on December 09, 2020, has approved and allotted senior secured rated, listed principal protected market linked redeemable Non-convertible debentures (NCD) of face value of Rs 10,00,000 each on private placement basis for an issue size of Rs. 25 crore with option to retain oversubscription of upto Rs 25 crore. The proceeds of the issue will be utilized for financing of Commercial Vehicles, refinancing of existing debt and other general purposes of the company.
Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.
