Shriram Finance Ltd.

Shriram Transport Finance Company (STFCL) is planning to raise Rs 100 crore via 25-month bonds at 10.10 percent. Standard Chartered Bank is the arranger to the deal.

STFCL is the flagship company of the Chennai based Shriram Group and is classified as deposit taking asset finance NBFC, with an objective to provide hire purchase and lease finance for the medium and heavy commercial vehicles to individual truck operators. It is the largest asset financing NBFC in India concentrated mainly in pre-owned vehicle financing business.

The company ‘s profit after tax for the quarter  has registered growth of 20.20% at Rs 347.30 crore as compared to Rs 288.94 crore for the quarter ended June 30, 2010. Its total income has increased by 13.87% at Rs 1465.43 crore for the quarter under review from Rs 1286.93 crore for the corresponding quarter of the previous year.