Shriram Finance Allots ₹1,500 Cr in NCDs via Private Placement

Shriram Finance Limited has successfully allotted Non-Convertible Debentures (NCDs) worth ₹1,500 Crores through private placement. The Allotment Committee - NCDs approved the issuance of senior, secured, rated, listed, redeemable, taxable NCDs. Option 1 involves a base issue size of ₹1,000 Crores with a coupon rate of 7.80% p.a. and maturity on September 07, 2029. Option 2 includes a base issue size of ₹500 Crores with an option to retain a green shoe of ₹500 Crores, a coupon rate of 8% p.a., and maturity on December 26, 2031. The proceeds will be utilized for augmenting long-term resources, onward lending, refinancing debt, and working capital.