Shriram City Union Finance has not specified as to how it will use the proceeds to be raised from this issue. Photo: Mint
New Delhi: Shriram City Union Finance (SCUF) on Thursday said it will issue bonds on a private placement basis to raise up to Rs500 crore.
“The company intends to issue and allot on private placement basis 5,000 number of secured non-convertible redeemable debentures of face value of Rs10 lakh each aggregating to Rs500 crore,” SCUF said in a regulatory filing.
The proposal is to be considered by the banking and securities management committee of the board of directors in its meeting to be held on 17 October, it said.
SCUF has not specified as to how it will use the proceeds to be raised from this issue. The SCUF stock closed 0.65% down at Rs1,982.45 per share on the BSE.