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Shriram Transport Finance Corp Ltd (STFC), the flagship company of Shriram Group from South is engaged in the finance related business as NBFC. It has obtained shelf limit of Rs. 3000 crore for debt issue of Secured Redeemable Non-Convertible Debentures of Rs. 1000 each with a base size of Rs. 100 crore from SEBI. This is the seventh debt issue offer from this company in last three years.
The company is coming out with an issue of Rs. 500 crore under this offer as Tranche I with 5000000 Secured Redeemable NCDs of Rs. 1000 each having coupon rates ranging from 9.85% to 10.15% under annual payment scheme for 36, 60 and 84 months and coupon rate of 10.71% and 10.94% for monthly payment on allotment under demat only for a tenure of 60 and 84 months respectively. The scheme of cumulative payment option is also available. Senior citizens are offer 0.25% extra for monthly as well as for cumulative scheme. These bonds offer is giving annualized yield of 9.85% to 11.50% based on category. Individual investors are given special incentive of 1.15%, 1.25% and 1.35% for the above three tenures respectively. Minimum application is to be made for 10 NCDs i.e. Rs. 10000 and in multiple of 1 NCD thereon thereafter. Issue is available for allotment under physical as well as demat mode, however, trading will take place only under demat mode. NCDs will be listed on NSE and BSE post allotments. Issue opens for subscription on 02.07.14 and will close on or before 22.07.14.
Issue Open | July 2, 2014 - July 22, 2014 |
Security Name | Shriram City Union Finance Ltd |
Security Type | |
Issue Size (Base) | Rs 500.00 Crores |
Issue Size (Shelf) | Rs [.] Crores |
Issue Price | Rs 1000 per NCD |
Face Value | Rs 1000 each NCD |
Minimum Lot size | 10 NCD |
Market Lot | 10 NCD |
Listing At | BSE |
Credit Rating | |
Tenor | |
Series | |
Payment Frequency | |
Basis of Allotment | First Come First Serve Basis |
The funds raised through this Issue will be used for:
1. Finance their business operations, lending, investments;
2. Repay existing loans;
3. Business operations including capital expenditure;
4. Working capital requirements; and
5. Meeting expenses of the Issue.
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Shriram City Union Finance Ltd
Shriram City Union Finance Ltd,
123, Angappa Naicken Street,
Chennai- 600 001, Tamil Nadu
Phone: + 91 44 4392 5300
Email: sect@shriramcity.in
Website: http://www.shriramcity.in
Phone:
Email:
Website: http://
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