Shriram Transport Finance Company Limited (STFC), the largest asset financing NBFC in India , plans to enter the debt capital market on July 16, 2013 with a public issue of Secured Non Convertible Debentures (NCDs) of face value of Rs. 1,000 each. The NCD issue aggregating upto Rs.37,500 lacs with an option to retain over-subscription up to Rs.37,500 lacs for issuance of additional NCDs aggregating to a total of up to Rs.75,000 lacs. The NCDs offered are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.
The Issue shall be open from July 16, 2013 to July 29, 2012 with an option to close earlier and/or extend up to a period at the discretion of the duly authorised committee of Directors of the Company subject to necessary approvals. The funds raised through this Issue will be used for various financing activities including lending and investments, to repay existing loans and for business operations including capital expenditure and working capital requirements.
Shriram Transport Finance Company Ltd is the largest asset financing NBFC in India, with a primary focus on financing pre-owned commercial vehicles. In addition, the company also provides commercial vehicle finance for new commercial vehicles. It is amongst the leading financing institutions in the organized sector for the commercial vehicle industry in India for FTUs and SRTOs.
Shriram Transport Finance Company Ltd also provides financing for passenger commercial vehicles, multi-utility vehicles, three wheelers and tractors. In addition, it provides ancillary equipment and vehicle parts finance, such as loans for tyres and engine replacements, and provides working capital facility for FTUs and SRTOs. The company also provides ancillary financial services targeted at commercial vehicle operators such as freight bill discounting and also market co-branded credit cards targeted at commercial vehicle operators in India, thereby providing comprehensive financing solutions to the road logistics industry in India.
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