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Shriram Transport Finance raises Rs 500 crore on private placement basis

Shriram Transport Finance Company has raised funds worth Rs 500 crore on private placement basis. The Allotment Committee – NCDs of the company in its meeting held on March 06, 2018, has approved and allotted 5,000 Secured Redeemable Rated Listed Non-Convertible Debentures of face value of Rs 10 lakh each, aggregating to Rs 500 crore.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC. The company was with an objective to provide hire purchase and lease finance for the medium and heavy commercial vehicles to individual truck operators.

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