Shriram City to launch Rs 200 cr NCD on Apr 16

Shriram City Union Finance will hit the debt market with Rs 200-crore issue on April 16.

The Rs 100-crore redeemable non-convertible debentures issue has an option to retain over-subscription of same amount.

The NCDs being offered will be listed on the BSE and have an AA rating from Care Ratings.

Managing Director G S Sundararajan said the company had been able to achieve relatively stable and competitive cost of funds from a range of sources, despite the difficult conditions in the economy.

"Our strategy is to grow our housing finance business and continue to grow our small enterprise finance segment by capitalising on the group brand name and ecosystem," he added.

The lead-managers to the issue are ICICI Securities and AK Capital Services.

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