Incorporated in 1986, Chennai based Shriram City Union Finance (Shriram City) is a deposit-taking non-banking financial company (NBFC). The company is a part of the "Shriram Group", leading financial service provider in India.
About Company Business
It has specialisation in retail finance where it finances Four Wheeler, Three Wheelers, Two Wheeler (old and new commercial and passenger vehicles) and provides Small Business Loans, Personal Loans, housing finance loans and, gold loan as well.
Shriram City Union Finance has a PAN India presence with 1,057 branches across the country and an enterprise resource planning ("ERP") platform connecting the outlets to head office. The company follows a 'hub-and-spoke' business model where all the control is vested to head office under general vigilance.
Listed Stock Exchanges
The company is listed on the Madras Stock Exchange (MSE), BSE and NSE with high credit ratings.
Recent Profit & Revenue Update
The company has generated standalone profit after tax in the last 6-months ending on 30th Sept 2018 is Rs 47,578.94 lakhs and revenue from operations is Rs 2,91,601 lakhs.
The strengths of the company are:
1. Good position in small enterprise finance segment
2. Strong presence due to Shriram Group brand name
3. Wide product range
4. 'Hub-and-spoke' business model
5. Advanced technology system
|Issue Open||Apr 5, 2019 - May 3, 2019|
|Security Name||Shriram City Union Finance Limited|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)|
|Issue Size (Base)||Rs 750.00 Crores|
|Issue Size (Shelf)||Rs 3,000.00 Crores|
|Issue Price||Rs 1000 per NCD|
|Face Value||Rs 1000 each NCD|
|Minimum Lot size||10 NCD|
|Market Lot||1 NCD|
|Credit Rating||CARE AA+ Stable, CRISIL AA/Stable,|
|Tenor||24 months/ 36 months/ 60 months|
Series 1 to Series 8
|Payment Frequency||Monthly, Annual and Cumulative|
|Basis of Allotment||Priority Basis|
NCD's allocated in each investor category:
|Category 1 (QIB)||0%|
|Category 2 (NII)||0%|
|Category 3 (HNI)||0%|
|Category 4 (RII)||0%|
|Series 1||Series 2||Series 3||Series 4||Series 5||Series 6||Series 7||Series 8|
|Frequency of Interest Payment||Annually||Cumulative||Annually||Monthly||Cumulative||Annually||Monthly||Cumulative|
|Tenor||24 months||24 months||36 months||36 months||36 months||60 months||60 months||60 months|
|Coupon Rate (Retail)||9.55%||NA||9.65%||9.26%||NA||9.75%||9.35%||NA|
|Amount on Maturity||₹1,000||₹1,200.15||₹1,000||₹1,000||₹1,318.70||₹1,000||₹1,000||₹1,593.15|
The NCDs proposed to be issued under the Issue have been rated 'CARE AA+ Stable' (Double A Plus; Outlook: Stable) by CARE and 'CRISIL AA/Stable' (pronounced as CRISIL double A rating with Stable outlook) by CRISIL for an amount of upto 30,000 million vide their letters dated December 11, 2018 (and revalidated on February 14, 2019) and December 6, 2018 (and revalidated on February 19, 2019) respectively. The rating of the NCDs by CARE and CRISIL are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
Shriram Capital Limited is the promoter of the company.
Objects of the issue are:
1. For the purpose of onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of the Company
2. General Corporate Purposes
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Shriram City Union Finance Limited
Shriram City Union Finance Ltd,
123, Angappa Naicken Street,
Chennai- 600 001, Tamil Nadu
Phone: + 91 44 4392 5300
Integrated Registry Management Services Private Limited
2 nd Floor,
Ramakrishna Street, North Usman Road,
T. Nagar, Chennai - 600 017
Phone: + 91 44 2814 0801 to 803
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