Shriram Finance Allots ₹2,220 Cr NCDs at 7.80% Coupon
Shriram Finance Limited allotted ₹2,220 Crores of NCDs on September 09, 2026. The NCDs have a coupon rate of 7.80% p.a. and mature on September 07, 2029. Proceeds will be used for refinancing existing debt.
The issuance of ₹2,220 Crores in NCDs is a material fundraising event for the company, impacting its capital structure and liquidity.
The announcement is a routine debt issuance for refinancing purposes and does not contain any significantly positive or negative financial performance indicators or strategic shifts.
Shriram Finance Limited has announced the outcome of its Allotment Committee - NCDs meeting held on September 09, 2026. The committee approved and allotted senior, secured, rated, listed, redeemable, taxable Non-Convertible Debentures (NCDs) on a private placement basis.
The Series SFL PPD 2026 -27 SEP 2029 Further Issue 1 comprises 2,22,000 NCDs with a face value of ₹1,00,000 each, resulting in an issue size of ₹2,220 Crores based on face value. The NCDs carry a fixed coupon rate of 7.80% per annum, with interest payable annually on September 07, 2027, September 07, 2028, and maturity on September 07, 2029.
The NCDs were issued at a discount of ₹149.77 per debenture, with a clean price of ₹99,850.23 plus accrued interest, resulting in a dirty price of ₹99,892.97 per debenture. The effective yield on this issuance is 7.85%.
The proceeds from this issue are intended for augmenting the company's long-term resources and will be utilized for refinancing existing rated and listed non-convertible debentures, which were previously used for creating a loan portfolio and onward lending, including financing/refinancing of electric vehicles.
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Shriram Finance Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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