Jul 21, 2009

Public Issue of secured NCD by Shriram Transport Finance

Salient features of the issue

- The NCD issue is rated "AA+" by CARE and "AA (IND)" by Fitch. STFC will create appropriate security in favour of the Debenture Trustee for the NCD holders on the assets to ensure 100% asset cover for the NCDs.

- The NCDs bear an attractive coupon rate between 10.75 % and 11.25 %.

- There are five investment options, suiting the needs of different categories of investors.

- The NCD'S are proposed to be listed on NSE and hence will be available in Demat form only, which will facilitate trading of these debentures.

- In case of a resident debenture holder, TDS will not be deducted since the debentures will be listed on the NSE.

- In case of NRI debenture holder, under Section 195 of the I.T. Act, the company is required to deduct tax at source.

- Under section 2 (29A) of the I.T. Act, read with section 2 (42A) of the I.T. Act, a listed debenture is treated as a long term capital asset if the same is held for more than 12 months immediately preceding the date of its transfer.

For Investment in Public Issue of secured NCD by Shriram Transport Finance

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