Shriram City Union Finance NCD – Draft Filed to Raise Rs 30000 Million

Shriram City Union Finance Limited, a Chennai based financial services company has recently filed the draft papers with SEBI for the issue of NCD (Non-Convertible Debentures). The draft was filed on February 19th, 2019 by the company in order to raise a capital of Rs 30,000 million. The papers for Shriram City Union Finance NCD 2019 has been processed with the regulatory authorities and it has announced the issue dates. The NCD Issue opens on 5th April 2019 and closes on 3rd May 2019. The coupon rate of up to 9.75% is being offered with this investment. Shriram City Union Finance Limited belongs to the Shriram group and is a deposit-taking Non-Banking Financial Company (NBFC) registered with Reserve Bank of India. It is primarily engaged in various types of lending and other financial service businesses across India.

Shriram City Union Finance NCD 2019 upcoming ncd issues

Shriram City Union Finance NCD 2019 – Features of the Issue

Following are the key features of the proposed Shriram City Union Finance NCD 2019 Issue:-

Issue Type Secured Redeemable Non-Convertible Debentures
Issuer Company Shriram City Union Finance Limited
Issue Opens 5th April 2019
Issue Closes 3rd May 2019
Coupon Rate (ROI) Up to 9.75%
Face Value Rs 1,000
Issue Price Rs 1,000
Minimum Order Quantity 10 NCD (Rs 10,000)
Issue Size Rs 30,000 Million
Listing  BSE
Listing Date Within 6 Working Days of Issue Closing Date

Shriram City Union Finance NCD 2019 – Objects of the Issue

Shriram City Union Finance Limited is issuing the NCDs to raise the capital for the company. This raised capital through Shriram NCD 2019 shall be utilized by the company for their various lending, financing, investments, repaying the existing liabilities, capital expenditure, business operations and loan repayment. At least 75% of the raised capital, after deducting the issue expenses, shall be used for onward lending, financing, and repayment purposes. The maximum up to 25% of this amount shall be utilized for general corporate purposes.

Shriram City Union Finance NCD 2019 – Credit Ratings

Two rating agencies have given the following ratings to the Shriram City Union Finance NCD 2019:-

  1. CARE: CARE AA+ / (Outlook) Stable
  2. CRISIL: CRISIL AA / (Outlook) Stable

About Shriram City Union Finance Limited

Shriram City Union Finance Limited was incorporated in the year 1986. Its former name was Shriram Hire-Purchase Finance Limited at that time. This company is a part of Shriram Group which is the leading financial service group in India. Shriram City Union Finance Ltd is an RBI registered deposit-taking NBFC which primarily focuses on lending and financing services. It offers its products such as small enterprises, MSME financing, loan against gold, two-wheeler financing, auto loans, personal loans, housing loans etc to the clients. This company is specialized in financing small enterprises. 

They have a pan India presence through 1,057 branches spread across the country. The company has a major presence in south India. This network of branches are connected together and from head office from ERP (Enterprise Resource Planning) platform. This company operates its business with 28,002 employees. Shriram City Union Finance Limited is promoted by Shriram Capital Limited. 

Registered Address: 123, Angappa Naicken Street, Chennai – 600 001.

Corporate Address: 144, Santhome High Road, Mylapore, Chennai – 600 004.

Telephone: +91 – 44 – 4392 5300

Website: www.shriramcity.in

Shriram City Union Finance NCD 2019 – Lead Managers to the Issue

  1. A. K. Capital Services Limited
  2. Edelweiss Financial Services Limited

Shriram NCD 2019 – Registrar to the Issue

Integrated Registry Management Services Private Limited

Shriram City Union Finance NCD 2019 – Debenture Trustee

Catalyst Trusteeship Limited

 

For more details on the Shriram City Union Finance NCD 2019 issue, please go through this draft prospectus.

 

Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Investment in securities is subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions. 

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Tags: #Debenture #Upcoming NCD #Upcoming NCD Issues 2019 #Shriram City Union NCD #Shriram NCD 2019

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