Shriram Transport Finance raises Rs 500 cr through bonds

New Delhi, Feb 26 () Shriram Transport Finance Company (STFC) has raised up to Rs 500 crore by issuing bonds on private placement basis.

"The Allotment Committee - NCDs of the company in its meeting held today approved and allotted rated, listed, secured, redeemable, non-convertible debentures (NCD) of face value of Rs 10 lakh each on private placement basis," the company said in a regulatory filing.

STFC has offered rated, listed, secured, redeemable, non-convertible debentures on private placement basis for an issue size up to Rs 500 crore, it said.

While 3,000 debentures worth Rs 300 crore with tenure of 3 years and 1 day will carry coupon rate of 9.50 per cent, 2,000 debentures worth Rs 200 crore with 2 years and 2 days tenure will have rate of 9.25 per cent per annum, it added.

Shares of the company on Wednesday closed 3.38 per cent lower at Rs 1,276.75 on the BSE. KPM RVK