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Our Bureau

Chennai, July 28 Shriram Transport Finance Company’s Rs 1,000-crore non-convertible debenture issue has been subscribed 4.5 times.

The issue opened on Tuesday. By evening, the company had received subscriptions worth Rs 4,500 crore, according to sources.

The issue was for raising Rs 500 crore, with a (greenshoe) option of retaining an additional Rs 500 crore.

It is learnt that only the portion earmarked for retail investors, of Rs 200 crore, was not fully subscribed. However, the issue is open until August 14.

The company has the option of making good any shortfall in retail subscription from the oversubscriptions for the qualified instructional placements and high net worth individual portions.

Shares of the company on Tuesday closed trading at Rs 299 on the BSE after losing 1.08 per cent from the previous close.

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