Through non-convertible debenture (NCD),
Shriram City Union Finance is raising Rs 200 crore. The funds raised will be used for financing and lending activities, to repay existing loans and meet business operations including for capital expenses and working capital requirements.
Shriram City issued secured redeemable NCDs of face value of Rs 1,000 each aggregating upto Rs 10,000 lakh with an option to retain over subscription upto Rs 10,000 lakh for issuance of additional NCDs aggregating to a total of upto Rs 20,000 lakh.
Shriram City Union Finance provides various consumer financing products and services in India.