Shriram Transport allots debentures of Rs 75 crore; shares up 4%

Moneycontrol BureauShares of Shriram Transport Finance Corporation added 4 percent intraday Friday as it has allotted debenture worth Rs 75 crore.The company's allotment committee - NCDs in its meeting held on December 29, approved and allotted 750 unsecured redeemable rated non-convertible subordinated debt in the nature of debenture of face value of Rs 10,00,000 each, aggregating to Rs 75 crore on private placement basis.The tenure of the said securities is of 10 years from the date of allotment with a coupon rate of 8.5 percent per annum.At 13:47 hrs Shriram Transport Finance Corporation was quoting at Rs 854.55, up Rs 19.55, or 2.34 percent on the BSE.Posted by Rakesh Patil