Shriram Transport Finance Co. Ltd. raised 18.30 billion Indian rupees through the issuance of nonconvertible debentures in four tranches.

The debentures were issued on a private placement basis, according to a March 22 release.

The company issued 10,000 debentures with a 727-day maturity and a coupon rate of 0.10% over the three-month State Bank of India marginal cost of funds-based lending rate. It also issued 5,000 debentures priced with an annual coupon of 8.00% that will mature in 726 days.

In addition, the company issued 2,300 five-year debentures priced with an annual coupon of 8.27% and 1,000 zero-coupon debentures that will mature in 1,111 days.

As of March 22, US$1 was equivalent to 65.15 Indian rupees.