Shriram Transport Fin to issue NCDs worth Rs 500 cr

Shriram Transport Finance Company (STFCL), an asset financing firm, plans to enter the debt capital market today with a public issue of Non-Convertible Debentures (NCDs) aggregating up to Rs 500 crore.

The company has an option to retain over-subscription of up to Rs 500 crore to issue additional NCDs.

The NCD issue closes on August 14, 2009, with an option to close earlier or on dates as may be decided by the company subject to regulatory approvals.

"The proceeds of the issue will be utilised for the second-hand truck financing business of the company," STFCL President Finance Parag Sharma told reporters here.