Shriram City Union Finance Bond SCUF NCD
Non-banking finance company Shriram City Union Finance (SCUF) will raise up to Rs 750 crore through a non convertible debenture (NCD).
The issue, which would be open between August 11 and 27, will let investors choose between the three years and five years tenor options and will carry a coupon rate of up to 12.10 per cent per annum.
The basic objective of the issue is to raise Rs 375 crore, while the company has a green-shoe option to retain oversubscriptions of an equal amount.
Company plans to use the proceeds of the issue in regular financing business and repaying debt.
Incorporated in 1986, SCUF is the country's biggest lender to small enterprises requiring loans of up to Rs 10 lakh and is also present in other segments like two-wheeler finance, loans against gold and existing two-wheelers, and financing white goods.
It plans to enter the home finance segment soon through a dedicated wholly owned subsidiary, its Executive Director Subhasri Sriram told reporters here.
The company plans to list the NCDs on both the Bombay Stock Exchange and National Stock Exchange from the beginning itself so that investors get the liquidity.
SCUF is a part of the Shriram Group that grew out of a chit fund business and Sriram said its database of over seven million customers is very important in SCUF's growth trajectory.
SCUF had clocked a 47 per cent growth in net profit in FY11 at Rs 241 crore.
1. Shriram NCD Allotment Under Process Read More
Objects of the issue:» Regular financing business
» Repaying debt
Shriram City Union Finance Ltd
123, Angappa Naicken Street, Chennai - 600 001.
Phone:+ 91 44 43915300
Fax:+ 91 44 43915351
|Issue Price||Rs. 1000|
|Isuue Type||100% Book Building Issue|
|Issue Size||3,750,000 Shares Of Rs. 375 Crores|
|Max Amount for Retail Investor||200000|
|Lead Manager||Jm Financial Consultants Pvt Ltd, A K Capital Services Ltd & ICICI Securities Ltd|
|Registrar||Integrated Enterprises (India) Limited|
|Registrar Phone||+91 44 28143045|
|Application Multiple||1 and in multiples there off starting with atleast 10 shares|
|Cheque in Favour of||"Escrow Account SCUF NCD Public Issue" For Retail Bidders|
Shriram City Union Finance Bond SCUF NCD Grey Market Price - Premium - Rates
|Date||GM Premium||Kostak Rate|
|11-Aug-2011||Rs. 12 - 13||Rs. 7000 (5 Lac)|
|12-Aug-2011||Rs. 12 - 13||Rs. 7000 (5 Lac)|
|16-Aug-2011||Rs. 14 - 15||Rs. 6700 (5 Lac)|
|17-Aug-2011||Rs. 14 - 15||Rs. 6700 (5 Lac)|
|18-Aug-2011||Rs. 20 - 25||----|
Shriram City Union Finance Bond SCUF NCD Subscription Details:
|06-Sep-2011||NA||Rs. 1687 Crore|