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MOTORINDIA
l
August 2012
111
STFC issue over-subscribed
The public issue by Shriram
Transport Finance Com-
pany Ltd. (STFC) of secured
non-convertible debentures
(NCDs) of face value
of Rs. 1,000 each
aggregating Rs. 300
crores has been over-
subscribed. STFC has
however decided to
retain subscription of
upto Rs. 600 crores.
The issue opened for
subscription on July
26 and closed on July
31. The NCDs will be
allotted on first-come-
first-served basis.
The rating of the
NCDs by CRISIL
and CARE indicates
high degree of safety
regarding timely
servicing of financial
obligations and car-
rying very low credit
risk. The NCDs will
be listed on NSE and
BSE.
The funds raised
through this issue will
be used for STFC’s
various financing activities,
including lending and invest-
ments, for repaying the exist-
ing loans and for business
operations, including capital
expenditure and working
capital requirements.
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vehicle finance