Shriram Transport Finance Company Ltd (STFC)

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 .

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