Shriram Transport Finance Company Ltd (STFC) One of the largest asset financing NBFCs in India, plans to enter the debt capital market on 27 July, 2009 with a public issue of Non Convertible Debentures (NCDs) aggregating up to Rs. 500 cr with an option to retain over-subscription of upto Rs. 500 cr for issuance of additional NCDs.
Details of the Issue is as followed :
Issue Period : July 27, 2009 to August 14,2009 (With the option of closing earlier or extended upto a period of 1 month).
Stock Exchange Proposed listing : NSE.
Tenor : 3/5 years depending upon option applied.
Interest on Application Money : 8% pa on the allotted amount.
Interest on refunds : 2.5% pa on valid refund amount.
Basis of allocation : First come first basis.
Tax Implication : No Income tax is deductible at source on Interest..
Rating : ‘CARE AA+’ by CARE and ‘AA’ by Fitch .