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