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Shriram Transport Finance Company is planning to raise Rs 250 crore by issuing non-convertible debentures (NCDs) on private placement basis.
The decision was taken on Monday at the Banking and Finance Committee meeting of its board.
"The Banking and Finance Committee of the company in its meeting held on March 28, approved and allotted 2,500 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 250 crore on private placement basis," the company said in a BSE filing.
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The NCDs, having a tenure of 366 days, will carry a coupon rate of 9.15% per annum.
Shares of the company were trading 0.01% down at at Rs 904.95 apiece during the pre-close session on BSE.
