Shriram Finance Ltd.

Shriram Transport Finance Company is planning to raise Rs 250 crore by issuing non-convertible debentures (NCDs) on private placement basis. The NCDs, having tenure of 366 days, will carry a coupon rate of 9.15% per annum.

The decision was taken on March 28, 2016 at the Banking and Finance Committee meeting of its board.

Shriram Transport Finance is a 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.