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


Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236