Shriram City Union Finance Ltd. on Wednesday said it is planning to raise up to Rs 750 crore by issuing bonds on a private placement basis.
The banking and securities management committee of the company on Wednesday approved the issue of secured, rated, listed, redeemable, principal-protected and market-linked non-convertible debentures for an amount of Rs 100 crore. There will also be a green shoe option of up to Rs 650 crore, taking the aggregate amount to Rs 750 crore, according to a regulatory filing.
The debt capital will be raised in one or more tranches on a private placement basis.
Stock of the company closed 6.22% down at Rs 1,621.60 apiece on BSE.
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