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Shriram Transport Finance raises 10.10B rupees via nonconvertible debentures

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Shriram Transport Finance raises 10.10B rupees via nonconvertible debentures

Shriram Transport Finance Co. Ltd. raised 10.10 billion Indian rupees via an offering of nonconvertible debentures on a private placement basis.

The company offered the debentures with three options.

It plans to issue 7,500 546-day debentures with an interest rate of 8.10% for the first quarter, with the rate thereafter being a spread over the prevailing central bank repurchase rate.

The company will also issue 100 seven-year and two-month debentures priced with an interest rate of 8.72% per year, as well as 2,500 one-year and nine-month debentures priced with an interest rate of 8.40% per year.

As of March 26, US$1 was equivalent to 64.75 Indian rupees.