Shriram Transport Finance non-convertible debentures issue of Rs 500 crore (with a green-shoe option of Rs 500 crore) has been subscribed by over five times. The coupon rate was 11.3-11.6 per cent depending upon the tenure.
The NCD issue, which was opened for subscription on Monday, was closed on Wednesday, although the company had an option of keeping it open till July 9. The bonds will be allotted on first-come-first-served basis.
The company had reserved Rs 200 crore worth of bonds for retail investors (investment under Rs 5 lakh), but this retail portion was subscribed over 11 times, and received applications for Rs 2,300 crore.
The share of Shriram Transport Finance closed at Rs 602.75 on the BSE, up by 1.3 per cent.