The board of Shriram Transport Finance Company approved and allotted senior secured rated, listed, principal protected market linked redeemable, non-convertible debentures (NCDs) of face value of Rs 10,00,000 each on private placement basis.
On 2 June 2021, the company allotted 750 NCDs of face value Rs 10 lakh each aggregating to Rs 75 crore. Date of maturity is 18 November 2023.The proceeds of the issue will be utilized for financing of commercial vehicles, refinancing of existing debt and other general purposes of the company.
On a consolidated basis, Shriram Transport Finance Company's net profit soared 238% to Rs 754.93 crore on 7.8% increase in total income to Rs 4,497.87 crore in Q4 FY21 over Q4 FY20.
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 Company fell 0.77% to Rs 1,420 on BSE. The stock hit an intraday low of Rs 1,417.95 and an intraday high of Rs 1,445 so far.
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