Ad Here  
January
February
March
April
May
June
 
 
ISRO's 100th mission Climate change may change the way businesses work... Chola MS launches motor app Realty sector takes a break... ALL – truck industry is recovering from degrowth SumInfra- corridor based development... Economic, business and social sustainability Inclusive and forward moving... Hero Motocorp - smooth ride ALL-two launches in a row TOP 10 CEO Compensation An aerospace-defence cluster in Tamil Nadu… Realising double digit growth in Tamil Nadu Innovation that helped Chennai port Chennai will soon get its World Trade Centre When Centre visits the state World labour laws at a glance Pharma market dozes Steel loses its sheen Smart controls for cooling large multi-zone spaces ... Placing the right shoe forward... Adding Zest to Scooty Sun Edison launches solar pumps WABCO’s second Chennai plant Investor friendly Japan Business Breif Illicit markets a concern to growing economy ECGC expands operations Chennai to get a roundabout Metro Murugappa- a year of consolidation Gem of social service... Auto test tracks launched at GARC Oragadam campus Is Indian telecom industry heading for a monopoly? Four daughters and a proud father Flexible labour laws… Purdue and IIT-M sign the dotted line On the ‘milky’ way CUB: towards card-less withdrawal Time to fast-pace the logistics sector Nigeria comes nearer Backpack laboratory Big-ticket investments march towards Punjab Three more leather clusters… Connecting the unconnected Need to focus on ease of doing business... Durga - India’s largest blast furnace; now operational Make way for the new and dynamic railways Focus on self-certification and third party inspection Rating of states to be released soon BRICS development bank Scoot offers just Rs.13,500 to ANZ... Airlines wage price war Indian Bank – global businesses crosses Rs 3 lakh crore... Automotive Vision Plan II... A global plastic event in India TII-challenging year with flat growth Creating Tamil Nadu Banana brand More gensets and diesel engines from TAFE Applauding enterprise... Industry-well poised to invest on expansion Bridging the skill deficit in pharma industry Techies trip to India - Celebration time at MS Chola Schwing Stetter India joins hands with US-based Gomaco Reality bytes Research needs more funding Economic issues take a back seat at G20 summit Nothing to hide... OBO Bettermann for better lightning protection Blue Star plans a new plant in south Apple maps – finding its way Hyundai excites again TVS Logistics – another acquisition to sharpen the business model Secured NCDs from Shriram City Towards peace of mind Changing dynamics in human resource management Striking cords for 25 years… TiE applauds innovative entrepreneurs Well-refined – RIL’s refinery margins zoom Carrefour’s quick exit The new look- 4s Verna TII’s single largest investment at Thiruthani Indigo stays leader with 40 per cent share Waste, a gold mine Business Briefs LVB gears to become a financial supermarket Curbing steel imports will hurt small business... Strategy war escalates between Hero and Honda Brand leaders come forward... STFC raises money Holiday Inn opens in OMR Chennai Ridley marathon to India Digital retail transactions stabilise at higher level… ALL to launch electric busses TN budget pragmatic and moderate on fiscal deficit An American alliance in the chemical industry? Celebrating 180 years of relevance Tata Steel commence operations at Kalinganagar Veritas Finance- financing the unfinanced European crisis is a global crisis! Housing Innovation Challenge, 2015 Dynamic e-commerce scenario Downsizing spree... Chennai Port is at last decongested! People Flow Day- Safety IFCI to raise NCDs upto Rs 2000 crore Chola MS net crosses 100 crores TCS’ revenues cross Rs 100,000 crore AirAsia India infuses funds to fight out competition
 
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 :
RELATED NEWS
ABOUT IE
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
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com