Shriram City Union Finance (SCUF), on Friday, said it will raise ₹150 crore via issue of Redeemable Secured Non-Convertible Debentures (SNCDs) on private placement basis.
In a regulatory filing, SCUF said the company’s Banking and Securities Management Committee approved, among other items, the issue of Redeemable SNCDs on private placement basis, of face value of ₹10 lakh each up to 1,500 SNCDs amounting to ₹150 crore, in one or more tranches as fully paid-up.
The non-banking finance company (NBFC), which was incorporated in 1986, offers vehicle loans, personal loans, micro, small and medium enterprise (MSME) loans, gold loans and investment options such as fixed deposits. As of March-end 2020, SCUF had assets under management of ₹29,085 crore.