Shriram Transport Finance Company Limited NCD
CARE has rated these NCDs as AA+/Stable, CRISIL rated them as AA/Stable and India Ratings as IND AA+/Outlook Stable. The ratings of the NCDs by CARE, CRISIL and India Ratings indicate that instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.
About the company:
Incorporated in 1979, Shriram Transport Finance Company Ltd is a leading asset financing non-banking finance companies. The company caters to first-time buyers (“FTB”) and small road transport operators (“SRTOs”) in the organized sector in India. It provides financing for pre-owned commercial vehicles. In addition, it also provides finance for new commercial vehicles to commercial vehicle operators, thereby providing complete financing solutions to the road logistics industry in India.
The company is a part of the Shriram group of companies, which has a strong presence in financial services in India.
The company has a widespread network of branches across India. It has 1,213 branches across the country, including in most of the major commercial vehicle hubs. It is also building a strong presence in 862 rural centres with a view to increasing the market share in the pre-owned commercial vehicle market.
Public issue of secured redeemable, Non-Convertible Debentures.
Objective of NCD Shriram Transport Finance Company Limited NCD:
- For the purpose of onward lending, financing and for repayment of interest and principal of existing borrowings of the company.
- For General Corporate purposes.
Promoters of the Company:
The promoter is Shriram Capital Limited.
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