Shriram Transport Finance Company Limited informed the exchanges Wednesday that Allotment Committee - NCDs of the company in its meeting held on December 9, approved and allotted senior secured rated, listed principal protected market linked redeemable Non-convertible debentures (NCD) of face value of Rs10 lakh each on private placement basis.
The allotment size is 250 NCDs for an issue size of Rs25cr with option to retain oversubscription of upto Rs25cr. The coupon rate is 9% per annum.
The Banking and Finance Committee of the company in its meeting had decided to raise Funds through issue of debt securities, and the company had intimated about the same on November 30, 2020.
“The proceeds of the issue will be utilized for financing of Commercial Vehicles, refinancing of existing debt and other general purposes of the company,” company said in a regulatory filing on Wednesday.
At around 9.52 am, Shriram Transport Finance Company Ltd was trading at Rs1034.60 per piece down 25.85 or 2.44% from its previous closing of Rs1,060.45 per piece on the BSE.