Shriram Finance Ltd.

Shriram Transport Finance Company is planning to raise Rs 12.50 crore by issuing 125 Secured Redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, on private placement basis. The NCDs, having tenure of 7 years, will carry a coupon rate of 9.05% per annum.

The decision was taken on June 09, 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.