The proceeds of the issue will be used for financing activities such as lending and investments, for repaying loans and for business operations, including capital expenditure and working capital requirements.
Shriram Transport Finance Ltd plans to borrow up to Rs 3,000 crore through non-convertible debentures (NCDs) to support its financing activities.
The company has filed a draft offer document for the public issue of 3 crore secured redeemable NCDs of face value of Rs 1,000 each, it said.
The proceeds of the issue will be used for financing activities such as lending and investments, for repaying loans and for business operations, including capital expenditure and working capital requirements.
JM Financial Institutional Securities, A K Capital Services, Edelweiss Financial Services and ICICI Securities are the lead managers of the issue.
NCDs are bonds issued by a company that cannot be converted into stock and usually offer a higher interest rate than convertible debentures.
Shriram Transport Finance, a part of the the Shriram group of companies, is into commercial vehicle financing, consumer finance, life and general insurance, stock broking, chit funds and distribution of financial products such as life and general insurance and mutual funds .
Shriram Trans stock price
On June 17, 2014, Shriram Transport Finance Corporation closed at Rs 918.25, up Rs 4.60, or 0.50 percent. The 52-week high of the share was Rs 1021.30 and the 52-week low was Rs 465.20.
The company's trailing 12-month (TTM) EPS was at Rs 55.72 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 16.48. The latest book value of the company is Rs 364.65 per share. At current value, the price-to-book value of the company is 2.52.
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