Shriram Finance Ltd.

Shriram Transport Finance Company has raised Rs 115 crore through allotment of Listed, Rated, Subordinated, Unsecured, Non-Convertible Debentures (NCDs), as Subordinated Debt for inclusion as Tier II Capital on Private placement basis for an issue size of Rs 100 crore plus greenshoe option of Rs 25 crore.

The proceeds of the issue will be used for augmenting the Tier II Capital of the Company and 100% of the proceeds thereof will be utilized in accordance with statutory and regulatory requirements (including requirements of RBI) and for financing of commercial vehicles, refinancing of existing debt and other general purposes of the Company.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.