Non-banking finance company (NBFC) Shriram City Union Finance said that it is planning to raise Rs 175 crore by issuing non-convertible debentures on private placement basis. “The company intends to raise funds through allotment on private basis of 1750 secured redeemable non-convertible debentures of face value of Rs 10,00,000 each aggregating to Rs 1,75,00,00,000,” the company said in a filing to the Bombay Stock Exchange.
This will be considered for allotment by Securities Management Committee, authorized committee of the Board of the Directors of the company in its meeting scheduled to be held on July 25, 2016, the filing added.
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