Shriram Transport Finance raises Rs 400 crore via bonds issue

NEW DELHI: Shriram Transport Finance Company Ltd today said it has raised Rs 400 crore by selling bonds on private placement basis.

"The allotment committee-NCDs of the company in its meeting held today, approved and allotted 4,000 secured, redeemable rated listed non-convertible debentures ...aggregating to Rs 400 crore on private placement basis," the company said in a regulatory filing.

The bonds with a tenor of 4 years and 1 day carries zero coupon rate.

Shriram Transport did not elaborate how it wants to use the proceeds from the issue.

Stock of the company closed 3.44 per cent higher at Rs 997.20 on BSE.