Shriram Finance Limited has informed the Exchange regarding allotment of 171500 securities pursuant to Non Convertible Securities at its meeting held on April 09, 2025
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Shriram Finance's Allotment Committee approved the issuance of senior, secured, rated, listed, redeemable, taxable NCDs through private placement on April 9, 2025. The company allotted 57,500 NCDs under Series SFL PPD 2025-26 Option 1 at a fixed coupon of 8.70% p.a. for a 3-year tenure (maturity April 9, 2028), raising Rs. 575 Crores. An additional 1,14,000 NCDs under Series SFL 2 PPD 2025-26 Option 2 were allotted at 8.69% p.a. for a 5-year 3-month tenure (maturity July 19, 2030), raising Rs. 1,140 Crores. Each option also carries a green shoe option of Rs. 1,500 Crores. Total funds raised in this tranche stand at Rs. 1,715 Crores, issued at par (Rs. 1,00,000 face value), with proceeds earmarked for lending, refinancing existing debt, working capital, and general corporate purposes.
Routine debt-raising exercise for the NBFC; no equity dilution and no negative signals. Coupon rates around 8.7% are reasonable for a rated NBFC, supporting business growth and refinancing needs without pressuring the stock.