The NBFC on Friday announced that it has approved and allotted senior secured rated, listed, principal protected market linked, redeemable, Non-Convertible Debentures (NCDs) on private placement basis.
The NBFC will issue 777 NCDs of face value of Rs 10 lakh each. The coupon on the NCD will be linked to performance of underlying / reference index. The date of maturity of NCD is fixed at 18 November 2023.Shriram Transport said that 100% of the proceeds of issue will be utilized for financing of commercial vehicles, refinancing of existing debt and other general purposes of the company as mentioned in term sheet.
Shares of Shriram Transport Finance were trading 6.3% lower at Rs 1,020.65 on BSE.
Shriram Transport is the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry.
The company's standalone net profit declined 6.47% to Rs 680.62 crore despite an 8.76% increase in total income to Rs 4,832.33 crore in Q3 FY22 over Q3 FY21.
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