Shriram Transport Finance gains on raising Rs 26 crore via NCDs

The company has allotted 260 NCDs of face value of Rs 10,00,000/- each aggregating Rs 26 crore

Shares of Shriram Transport Finance were up nearly 4% at Rs 987 after the company reported that it has raised Rs 26 crore through non-convertible debentures through non-convertible debentures.

The Banking and Finance Committee at its meeting held on April 22, 2016 approved and allotted 260 secured redeemable non-convertible debentures of face value of Rs 10,00,000/- (Rs Ten Lakh only) each, aggregating Rs 26 crore on private placement basis, the company said in a release.

The stock opened at Rs 955 and touched a high of Rs 985. At 12:10pm, over 237,000 shares were traded on both the stock exchanges.