Shriram Transport Finance to Raise at Least Rs 500 Crore via NCDs: Report

Shriram Transport Finance to Raise at Least Rs 500 Crore via NCDs: Report
Mumbai:

Shriram Transport Finance Company Ltd will raise at least Rs 500 crore ($83.75 million) via non-convertible debentures in the first week of July, multiple sources said on Thursday.

The company will raise up to a maximum of Rs 3,000 crore in 3-, 5- and 7-year tenures, sources said.

Edelweiss Capital, ICICI Securities, A.K. Capital and J.M. Financial are among the lead managers of the issue, sources added.

Shriram Transport Finance shares ended 4.8 per cent higher on Thursday compared to a 1 per cent fall in the Nifty.

Copyright: Thomson Reuters 2014