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Shriram Transport Finance raises 3.6B rupees from debt issuance

Shriram Transport Finance Co. Ltd. raised 3.6 billion Indian rupees via the issuance of nonconvertible debentures in a private placement.

The debentures bear a coupon of 7.6414% per year and have a tenor of three years and three months, the company said in an Aug. 10 stock exchange filing.

As of Aug. 10, US$1 was equivalent to 64.08 Indian rupees.