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Shriram Transport Finance to raise Rs 25,000 crore debt this fiscal

09 Apr 2013 Evaluate

Shriram Transport Finance is planning to raise Rs 25,000-crore debt this fiscal, including Rs 1,000 crore through nonconvertible debentures (NCDs) which needs to be raised this quarter, to meet its lending and redemption requirements. The non-banking finance company has a lending requirement of Rs 2,000 crore every month. In the current fiscal, the company would see maturities of about Rs 500-600 crore from its earlier public issues. Meanwhile, the company's disbursement target for the current fiscal is Rs 27,000-28,000 crore.

Further, the funds will be utilized for lending, paying back debt and meeting maturities. While, a huge portion of the issue, the date for which is yet undecided, will be reserved for small individual investors and the remaining will be for qualified institutional investors and institutional investors.

Shriram Transport Finance is the 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.

Shriram Finance Share Price

1036.50 14.05 (1.37%)
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