The NBFC on 30 December 2020 allotted 2400 senior secured rated, listed redeemable non-convertible debentures (NCD) of face value of Rs 10 lakh each on private placement basis.
The bonds offer interest rate of 8% per annum and will mature on 30 December 2022.Shriram Transport Finance Company will utilise the proceeds of the issue for onlending to grow the asset book, financing of commercial vehicles.
The company's consolidated net profit declined 10.5% to Rs 684.56 crore on 4.7% rise in total income to Rs 4,351.26 crore in Q2 September 2020 over Q2 September 2019.
Shriram Transport Finance Company, the flagship company of the Shriram group, has significant presence in consumer finance, life insurance, general insurance, stock broking and distribution businesses.
Shares of Shriram Transport Finance were up 0.30% at Rs 1,042.10.
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