Shriram City plans to raise up to Rs. 200 cr via NCDs.

Shriram City Union Finance is planning to raise up to Rs. 200 crore through non-convertible debentures (NCDs) to support financing activities.

The company is proposing to raise Rs. 100 crore, with an option to retain over subscription to the extent of another Rs. 100 crore.

NCDs are loan-linked securities issued by a company and cannot be converted into stocks and usually carry a higher interest rate than a convertible debenture.

The funds raised through the issue are to be used for financing and lending activities, to repay existing loans and meet business operations including for capital expenditure and working capital requirements.

BS