Sriram City Union Finance to raise Rs 900 crore via NCDs

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Published: August 22, 2019 4:53:19 AM

The NCDs have been rated ‘AA+’ (stable) by Care ratings and ‘AA’ (stable) by Crisil. The base issue size is Rs 100 crore, with an option to retain oversubscription to the extent of Rs 900 crore. The NCDs are proposed to be listed on the BSE.

Sriram City Union Finance, NCD, NBFC, MSME, MSME financiang, industry newsThe NCDs carry a face value of Rs 1,000 each, and the minimum investment amount is Rs 10,000.

Shriram City Union Finance on Wednesday announced the issue of secured redeemable non-convertible debentures (NCDs) to raise up to Rs 900 crore. The issue, which offers an interest rate of up to 9.85% per annum, will be open from August 21 to September 19, with an option of early closure or extension. The investment tenors comprise two, three and five years, with annual and cumulative options for two years and monthly, annual and cumulative options for three and five years.

The NCDs have been rated ‘AA+’ (stable) by Care ratings and ‘AA’ (stable) by Crisil. The base issue size is Rs 100 crore, with an option to retain oversubscription to the extent of Rs 900 crore. The NCDs are proposed to be listed on the BSE.

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The NCDs carry a face value of Rs 1,000 each, and the minimum investment amount is Rs 10,000. Shriram City Union Finance is a thirty-three year old deposit-taking NBFC with multiple product offerings, including small enterprise/MSME financing, loans against gold, financing for two-wheelers, auto loans, personal loans and housing finance loans.

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