The NCDs have been rated AA/stable by CRISIL and AA+ by CARE. The rating of the NCDs by CRISIL indicates high degree of safety with regard to timely servicing of financial obligations and carrying very low credit risk, while the rating of NCDs by CARE indicates high safety as regards timely servicing of financial obligations and carrying very low credit risk.
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.
JM Financial Institutional Securities Private Limited, A K Capital Services Limited, HDFC Bank Limited and ICICI Securities Limited are the lead managers to the issue, while Karvy Investor Services Ltd, RR Investors Capital Services Private Limited, SMC Capitals Ltd and Trust Investment Advisors Private Ltd are the co-lead managers to the issue.
IDBI Trusteeship Services Limited is the debenture trustee, while Integrated Enterprises (India) Limited is the registrar to the issue.
Shriram Transport Finance Company's primary focus is on financing pre-owned commercial vehicles. In addition, the company also provides finance for new commercial vehicles, 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 NCDs offered are proposed to be listed on the National Stock Exchange and BSE.
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