Shriram City Union Finance To Raise Up To Rs 750 Crore

Shriram City Union Finance Ltd. on Wednesday said it is planning to raise up to Rs 750 crore by issuing bonds on a private placement basis.

The banking and securities management committee of the company on Wednesday approved the issue of secured, rated, listed, redeemable, principal-protected and market-linked non-convertible debentures for an amount of Rs 100 crore. There will also be a green shoe option of up to Rs 650 crore, taking the aggregate amount to Rs 750 crore, according to a regulatory filing.

The debt capital will be raised in one or more tranches on a private placement basis.

Stock of the company closed 6.22% down at Rs 1,621.60 apiece on BSE.