New Delhi: On Wednesday Shriram Transport Finance corporation conveyed that, it will lift up to Rs.25,000 crore and buy back bonds worth Rs. 500 crore. On Wednesday both the verdict were taken at the Annual General Meeting of the corporation. Today the company conveyed in filing to the BSE that, the board of directors at its gathering has "approved issuance of redeemable non-convertible debentures on private placement basis up to Rs. 25,000 crore in the annual general meeting.
Shriram Transport Finance Company (STFC) conveyed that, the verdict is an outcome of a special resolution approved by shareholders. In addition, the board has also authorized the banking and finance committee to buy back redeemable non-convertible debentures (NCDs) up to Rs. 500 crore from time to time. Supplementary, the corporation conveyed a particular resolution was approved for enhancement of limit up to Rs. 93,750 crore for formation of security on assets in respect of borrowings of the corporation. On Wednesday shares in Shriram Transport Finance corporation, concluded 3.61 per cent superior at Rs. 1,255.55 apiece on the BSE, whose benchmark Sensex index ended up 0.17 per cent.