Shriram Finance Limited has successfully approved and allotted senior, secured, rated, listed, redeemable, taxable Non-Convertible Debentures (NCDs) on a private placement basis. The total issue size amounts to ₹2,220 crore. These NCDs, Series SFL PPD 2026-27 SEP 2029 Further Issue 1, carry a fixed coupon rate of 7.80% per annum and mature on September 07, 2029. The proceeds will be used for augmenting long-term resources, including refinancing existing NCDs and financing electric vehicles.
Shriram Finance Completes ₹2,220 Crore NCD Allotment
Shriram Finance Limited announced today the outcome of its Allotment Committee meeting held on September 09, 2026. The committee has approved and allotted senior, secured, rated, listed, redeemable, taxable Non-Convertible Debentures (NCDs) through private placement. This action follows earlier communications regarding the company’s strategy to raise funds through debt securities for the period ending October 31, 2026.
Key Details of the NCD Issue
The NCDs are issued under the series name Series SFL PPD 2026-27 SEP 2029 Further Issue 1. The base issue size was ₹1,000 crore with a green shoe option of ₹2,000 crore. The final allotment size is ₹2,220 crore. Each NCD has a face value of ₹1,00,000, with a re-issue price of ₹99,892.97 (dirty price). The coupon rate is fixed at 7.80% per annum, with interest payments scheduled annually on September 07, 2027, September 07, 2028, and maturity on September 07, 2029. The tenor of the NCDs is 2 years, 11 months, and 29 days from the deemed date of allotment, which was September 09, 2026.
Utilization of Proceeds
The funds raised from this NCD issuance will be utilized for augmenting the company’s long-term resources. Specifically, 100% of the proceeds will be used for refinancing existing rated and listed non-convertible debentures. These funds will also support the creation of a loan portfolio and onward lending, including the financing or refinancing of electric vehicles, as agreed upon with the Debenture Trustee. The NCDs are proposed to be listed on the WDM segment of the BSE.
Past Issuance and Security
The company noted a past issuance of NCDs under the same ISIN (INE721A07SS4) on July 09, 2026, for an amount of ₹1,000 crore. The issued NCDs are secured and carry a yield of 7.85%.
Source: BSE
