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