MoneyWorks4Me

Shriram Transport Finance Company raises Rs 525 crore

05 Feb 2022 Evaluate

Shriram Transport Finance Company (STFC) has raised Rs 525 crore by issuing secured bonds on a private placement basis. The non-banking finance company allotted 5,250 non-convertible debentures (NCDs) of face value of Rs 10 lakh each on February 2, 2022.

The coupon on the bonds are floating rate linked to the benchmark of 12 months treasury bills (T-bill) rate plus spread, payable annually.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.

Peers