The rating agency further said it expects the overall impact on the NBFC sector to be more pronounced than on the banking sector, given some of them lend to "weaker" customers.
The company represented itself with relevant information and facts that it was of the bona fide view that it had not contravened any of the provisions of the Foreign Exchange Management Act (FEMA).
"The company is considering raising of funds through various options of borrowings including by way of issue of debt securities in onshore/offshore market by public issue and/or private placement basis and commercial papers," Shriram Transport Finance company said in a filing to BSE.
STFC has offered rated, listed, secured, redeemable, non-convertible debentures on private placement basis for an issue size up to Rs 500 crore, it said.
The company has allotted rated, listed, secured, redeemable, non-convertible debentures on private placement basis for an issue size of Rs 500 crore, STFC said in a regulatory filing.
We expect volatility to inch higher this week as participants will unwind and rollover their derivatives positions due to schedule F&O expiry on July 25
The company had reported a net profit of Rs 961.76 crore in the same period of 2017-18, it said in a regulatory filing.
The non-banking finance company (NBFC) had registered a net profit of Rs 541.54 crore in the October-December quarter of 2017-18.
The base size of the public issue is Rs 200 crore with an option to retain an additional amount of up to Rs 500 crore from oversubscription, the company said in a release.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 40 points or 0.36 percent. Nifty futures were trading around 11,082-level on the Singaporean Exchange.
Technically, the index formed a Bearish Candle on the daily scale which suggests that bears are putting pressure at higher levels.
The company said it has issued secured, redeemable non-convertible debentures on private placement basis for an issue size of Rs 1,830 crore.
"The Allotment Committee-NCDs of the company in its meeting held today, approved and allotted 4,000 secured redeemable rated listed non-convertible debentures of face value of Rs 10 lakh each, aggregating to Rs 400 crore on private placement basis," the company said in a regulatory filing.
CD Equisearch recommended accumulate rating on Shriram Transport Finance Company with a target price of Rs 1475 in its research report dated November 23, 2017.
Its net profit stood at Rs 387.65 crore in the corresponding July-September quarter of the previous fiscal.
"The allotment committee-NCDs of the company in its meeting held today, approved and allotted 4,000 secured, redeemable rated listed non-convertible debentures ...aggregating to Rs 400 crore on private placement basis," the company said in a regulatory filing.
The allotment committee for NCDs of the company raised the amount of Rs 500 crore by issuing 5,000 secured redeemable non-convertible debentures on private placement basis, Shriram Transport Finance said in a regulatory filing.
"The allotment committee-NCDs of the company in its meeting held on March 23, 2017, approved and allotted 6,000 partly paid secured redeemable rated listed non-convertible debenture of face value of Rs 10,00,000 each on private placement basis for a issue size of Rs 600 crore," Shriram Transport Finance Company said in a BSE filing.
Shriram Transport Finance Company today reported a 54.56 percent plunge in profit to Rs 143.92 crore for the fourth quarter ended March 31.
Umesh Revankar, Managing Director at Shriram Transport Finance Company said bulk goods transport is still subduedl but heavy commercial vehicle (HCV) sales have improved from previous months.
Indian companies have mopped up over Rs 16,000 crore in the current fiscal by issuing non- convertible debentures (NCDs) to retail investors, garnering nearly three times the amount that was targeted.
Shriram Transport Finance Company, one of the largest asset financing NBFCs in India, plans to enter the debt capital market on October 7, 2013 with a public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs.1,000 each.
"We all are going through tough environment. Somehow, we are still holding our asset quality. Due to weak economic indicators, we have seen some moderation in the manufacturing and bulk goods transportation," Umesh Revankar, MD, Shriram Transport Finance told moneycontrol.com.
Emkay Global Financial Services has come out with its report on banking & financial services. According to the research firm, the RBI has allowed NBFC-AFCs to raise funds via the ECB under the automatic route, with a minimum average maturity period of 5 years to finance the import of infrastructure equipment for leasing to infrastructure projects.
Shriram Transport Finance Company aims to raise upto Rs 375 crore with an option to retain over-subscription up to Rs 375 crore for issuance of additional NCDs aggregating to a total of up to Rs 750 crore.