Chennai: Shriram Transport Finance Co. Ltd, the country’s largest truck financier, has decided to prune its plans to raise Rs 2,000 crore by selling non-convertible debentures (NCDs) because of uncertainty on interest rates and flat growth in the sales of heavy trucks.
Initially, the company plans to raise Rs 300 crore, less than the Rs 500 crore it had decided to raise earlier. “We will raise only Rs 300 crore with an option to retain over-subscription up to Rs 300 crore as we currently have sufficient resources,” Umesh Revankar, managing director of Shriram Transport Finance, said in an interview.
No comments:
Post a Comment