Shriram Finance Ltd.

Shriram Transport Finance Company is planning to mop-up Rs 2,000 crore through issue of Non Convertible Debentures (NCD). The public issues of the NCD will be through one or more tranches during the current fiscal. The first tranche of the NCD, about Rs 375 crore, will be opened during the third week of July.

The company will use the raised fund for expansion of business, repayment of loan and for other business operations. The company, which is one of the largest asset financier, increased its Assets Under Management to Rs 49,676 crore as on March 31, 2013 from Rs 40,213 crore, a year ago.

Shriram Transport Finance is the 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.