Shriram Transport Finance Co. informed that the company has allotted rated, listed, secured, redeemable, non-convertible debentures (NCD) of face value of Rs10 lakh each, aggregating to Rs 500 crore, on private placement basis.
While 3000 debentures worth Rs 300 crore with tenure of 3 years and 1 day will carry a coupon rate of 9.50%, 2000 debentures worth Rs 200 crore with 2 years and 2 days tenure will have a rate of 9.25% per annum, the company added.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 the financier ended 3.38% lower in yesterday's session at Rs 1276.75.
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