India’s Shriram Transport board OKs up to Rs. 100 billion debentures

By Sarah Lizee

Olympia, Wash., Jan. 28 – Shriram Transport Finance Co. Ltd. informed the Bombay Stock Exchange that its board of directors met on Monday and approved a proposal to raise funds through a public issue of redeemable nonconvertible debentures with a shelf limit of Rs. 100 billion.

The board also approved a resource mobilization plan for the issuance of redeemable nonconvertible debentures or subordinated debentures on a private placement basis in tranches from Feb. 1 to April 30.

Shriram Transport provides financing for commercial vehicles and is based in Mumbai.

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