Shriram City Union Finance to raise Rs 200 crore through bonds

Shriram City Union Finance on Monday announced to raise Rs 200 crore through the issuance of bonds on a private placement basis.

In a filing with the exchange, Shriram City Union Finance said, “The banking and securities management committee of the company in its meeting held on December 14, 2020, approved to issue non-convertible debentures for an amount of Rs 100 crore with the greenshoe option up to Rs 100 crore, aggregating up to 2000 NCDs amounting Rs 200 crore.”

“The bond will be in the nature of secured, rated, listed redeemable, principal-protected market linked debentures (PP-MLD). The non-convertible debentures (NCD) will be issued on a private placement basis in one or more tranches,” the filing added.