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TCS’ revenues cross Rs 100,000 crore World labour laws at a glance Chola MS net crosses 100 crores Flexible labour laws… STFC raises money Striking cords for 25 years… Nothing to hide... Veritas Finance- financing the unfinanced Need to focus on ease of doing business... Changing dynamics in human resource management Pharma market dozes Realty sector takes a break... Nigeria comes nearer CUB: towards card-less withdrawal Celebration time at MS Chola Techies trip to India TOP 10 CEO Compensation TII-challenging year with flat growth Investor friendly Japan Towards peace of mind Backpack laboratory TN budget pragmatic and moderate on fiscal deficit OBO Bettermann for better lightning protection Sun Edison launches solar pumps Climate change may change the way businesses work... Schwing Stetter India joins hands with US-based Gomaco ALL to launch electric busses Is Indian telecom industry heading for a monopoly? European crisis is a global crisis! Hero Motocorp - smooth ride Downsizing spree... Innovation that helped Chennai port Realising double digit growth in Tamil Nadu Illicit markets a concern to growing economy ISRO's 100th mission Tata Steel commence operations at Kalinganagar Research needs more funding Placing the right shoe forward... TVS Logistics – another acquisition to sharpen the business model ALL – truck industry is recovering from degrowth Smart controls for cooling large multi-zone spaces ... An American alliance in the chemical industry? Business Briefs People Flow Day- Safety Indian Bank – global businesses crosses Rs 3 lakh crore... A global plastic event in India ECGC expands operations TiE applauds innovative entrepreneurs Ridley marathon to India Business Breif Dynamic e-commerce scenario Well-refined – RIL’s refinery margins zoom Auto test tracks launched at GARC Oragadam campus Economic, business and social sustainability Adding Zest to Scooty Inclusive and forward moving... Secured NCDs from Shriram City Blue Star plans a new plant in south TII’s single largest investment at Thiruthani Apple maps – finding its way The new look- 4s Verna Connecting the unconnected AirAsia India infuses funds to fight out competition Carrefour’s quick exit SumInfra- corridor based development... An aerospace-defence cluster in Tamil Nadu… Focus on self-certification and third party inspection Airlines wage price war ALL-two launches in a row Chennai will soon get its World Trade Centre Indigo stays leader with 40 per cent share Digital retail transactions stabilise at higher level… Housing Innovation Challenge, 2015 Economic issues take a back seat at G20 summit LVB gears to become a financial supermarket Purdue and IIT-M sign the dotted line Celebrating 180 years of relevance Curbing steel imports will hurt small business... Applauding enterprise... - IFCI to raise NCDs upto Rs 2000 crore Brand leaders come forward... Holiday Inn opens in OMR Chennai Creating Tamil Nadu Banana brand Bridging the skill deficit in pharma industry Steel loses its sheen Murugappa- a year of consolidation Three more leather clusters… Strategy war escalates between Hero and Honda Hyundai excites again Durga - India’s largest blast furnace; now operational Reality bytes When Centre visits the state More gensets and diesel engines from TAFE Industry-well poised to invest on expansion Rating of states to be released soon Four daughters and a proud father Time to fast-pace the logistics sector On the ‘milky’ way Big-ticket investments march towards Punjab Automotive Vision Plan II... Make way for the new and dynamic railways Gem of social service... Waste, a gold mine Chola MS launches motor app Scoot offers just Rs.13,500 to ANZ... Chennai to get a roundabout Metro BRICS development bank Chennai Port is at last decongested! WABCO’s second Chennai plant
 
STFC raises money

Over the years, it has emerged as a bell-weather NBFC in corporate India, upstaging traditional giants. On 16 July this company, India’s largest truck financier, entered the debt market via a non-convertible debenture offering.  The size of the issue: Rs 375 crore; plus a green-shoe option of  Rs 375 crore. We are talking of Shriram Transport Finance Company (STFC) of the Chennai-based Shriram Group.

The offering has been rated both by CRISIL and CARE as having a high degree of safety with regard to timely servicing of financial obligations carrying very low credit risk.  The end use of the fund is for financing activities like lending and investments, repaying existing loans for business operations including capital expenditure and meeting working capital requirements.

The current issue is priced at an annual coupon rate of 9.65-11.15 per cent. This is close to the 11.4 per cent at which STFC raised funds last year. The investor should be happy as it is well above the inflation rate and is well rated.

As a company STFC focuses on financing used and new vehicles. The NCDs will be listed both on the NSE and the BSE.

The company’s first quarter (April-June) consolidated net profit was Rs 366 crore.

On standalone basis, NBFC reported a net profit of Rs 341 crore.

The company has its entire 40 per cent stake in Shriram Asset Management Company (SAMC). 

 

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