Shriram City Union Finance to raise Rs 100cr via NCDs

Shriram City Union Finance plans to raise Rs 100 crore by issuing non-convertible debentures (NCDs) on private placement.

"The company intends to raise funds through issue and allotment on private placement basis of 1,000 secured non-convertible debentures of face value of Rs 10 lakh each aggregating to Rs 100 crore," it said in a regulatory filing.

Shriram City said the allotment of bonds is to be considered by the Banking and Securities Management Committee of the Board of Directors at its meeting to be held on October 7.

Shriram City Union Finance (Shriram City) is a non banking finance company and part of Shriram Group.