Shriram Transport to raise up to Rs 1,000 crore

The base size of the issue is Rs 200 crore with an option to retain over-subscription aggregating up to Rs 1,000 crore, the company said in a release.

This is the second tranche of bonds to be issued by the non-banking finance company. “The funds raised will be used for onward lending, financing and for repayment/ prepayment of interest and principal of existing borrowings of the company and for general corporate purposes,” the release said.

It is offering three- and five-year bonds with monthly, annual and cumulative interest payment options and seven-year bonds with monthly and annual interest payment options. The bonds will be offering a coupon in the range of 8.52-9.10 pc under various interest payment options. The tranche-II issue will open for subscription on January 6 and close on January 22.