Shriram Finance Ltd.

Shriram Transport Finance Company (STFCL) is planning to raise at least Rs 65 crore via two separate bond issues. The company plans to raise at least Rs 50 crore via 3-year zero coupon bonds at 10.42 percent. Deutsche Bank is an arranger to the deal and HDFC Mutual fund invested in the deal.

In another deal, the company plans to raise Rs 15 crore via 2-year zero coupon bonds at 10.30 percent. The 2-year bonds have been placed with DSP BlackRock Mutual Fund.

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.