Shriram Finance Ltd.

Shriram Transport Finance has been reported of planning to raise Rs 50 crore via 10-year subordinate debt with coupon rate of 10.85%. Further, the company has roped in ICICI Securities Primary Dealership as the sole arranger of the deal.

The non-banking financial institution, earlier reported that it is planning to raise up to Rs 600 crore rough a public issue of bond. The company for this would issue interest-bearing bonds with 36- and 60-month tenures and non-interest bearing bonds, which will be redeemable at a premium in the same tenures.

The company has posted a fall of 9.56% in its net profit at Rs 308.07 crore for the quarter ended March 31, 2012 as compared to Rs 340.62 crore for the same quarter in the previous year. However, total income has increased by 7.36% at Rs 1485.46 crore for quarter under review as compared Rs 1383.51 crore for the quarter ended March 31, 2011.