Shriram Transport raises Rs 250 cr by issuing bonds

Shriram Transport Finance has raised Rs 250 crore by issuing bonds on a private placement basis, the company said Tuesday.

The allotment committee of the company in its meeting held Tuesday approved and allotted 2,500 secured redeemable rated listed non-convertible debentures of face value of Rs 10 lakh each aggregating to Rs 250 crore on private placement basis, the company said in a regulatory filing.

The tenure of the bonds is two years, three months and 19 days and carries varied coupon rate in three slabs.

Shriram Transport Finance shares closed 2.22 per cent down at Rs 1,193.90 on BSE.