Shriram Transport Finance Raises Rs 500 Crore Through Bonds

Shriram Transport Finance Company Ltd. on Monday said it has raised Rs 500 crore by issuing bonds on private placement basis.

The company has allotted rated, listed, secured, redeemable, non-convertible debentures on private placement basis for an issue size of Rs 500 crore, STFC said in a regulatory filing.

The coupon rate for the bonds is 9.47 percent per annum, while the tenure is 13 months from the date of allotment. The date of maturity is fixed for March 10, 2021. Shares of STFC on Monday closed 1.73 percent lower at Rs 1,201.50 on the Bombay Stock Exchange.