Shriram Transport Finance Company has allotted 5000 secured redeemable rated listed non-convertible debenture (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 5 billion on private placement basis.

The Allotment Committee-NCDs of the company in its meeting held on March 27, 2017 has approved for the same.  

Shriram Transport Finance is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC. The company was with an objective to provide hire purchase and lease finance for the medium and heavy commercial vehicles to individual truck operators.

Shares of the company gained Rs 10, or 0.98%, to trade at Rs 1,029.90. The total volume of shares traded was 1,452 at the BSE (9.27 a.m., Tuesday).