Shriram Finance Ltd.

Shriram Transport Finance Company is planning to raise Rs 5 crore by issuing 50 Secured Redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, on private placement basis. The NCDs will be having tenure of 5 years.

The decision in this regard was taken on June 10, 2016 at the Banking and Finance Committee meeting of company’s 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.