Shriram Finance Ltd.

Shriram Transport Finance Company has raised Rs 965 crore on private placement basis. The allotment committee-non convertible debentures (NCDs) of the company approved and allotted 9,650 secured, redeemable, rated, listed NCDs of face value of Rs 10 lakh each, aggregating to Rs 965 crore.

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.