Shriram Transport to consider allotment of NCDs

Shriram Transport Finance Company said it will consider raising funds by issuing redeemable non-convertible debt securities in onshore/offshore market via private placement and/or public issue during April 2021.

The special committee of the board will consider and approve the issue and allotment of redeemable non-convertible debt securities during the month ending 30 April 2021 as per their respective terms of reference, subject to such terms and conditions including the issue price of debt securities, as the said committees may deem fit.

On a consolidated basis, Shriram Transport Finance Company's net profit dropped 17.2% to Rs 727.72 crore on 5.2% rise in total income to Rs 4,443.12 crore in Q3 December 2020 over Q3 December 2019.

Shares of Shriram Transport Finance Company slipped 0.44% to Rs 1,422.15 on BSE. 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.

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