The non-convertible debentures (NCDs) issue of Shriram Transport Finance has received a good response from the investors and mopped up nearly Rs 4,500 crore in just a day's time.
According to market sources, the NCD issue received good response from qualified institutional buyers and the high net worth individuals with both the segments getting over subscribed.
The public issue of NCDs, which started yesterday for raising Rs 500 crore with an option to retain over-subscription of up to Rs 500 crore would close on August 14.
Shriram Transport Finance, a leading asset financing NBFC, would use the funds raised for its capital expenditure, working capital requirements, or repay its existing loans, and for various financing activities, including lending and investments, subject to regulations.
The company is a part of the Shriram conglomerate that has a significant presence in financial services. The group is also present in non-financial services business such as property development, engineering projects and information technology.
No comments:
Post a Comment