New Delhi, Dec 14 (PTI) Shriram City Union Finance on Monday said it will raise up to Rs 200 crore by issuing bonds on private placement basis.

The banking and securities management committee of the company at its meeting held on Monday approved issue of non-convertible debentures for an amount of Rs 100 crore with green shoe option up to Rs 100 crore, aggregating up to 2,000 NCDs amounting to Rs 200 crore, Shriram City Union Finance said in a regulatory filing.

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The bonds will be in the nature of secured, rated, listed, redeemable, principal protected market linked debentures (PP-MLD).

The non-convertible debentures (NCDs) will be issued on a private placement basis in one or more tranches, it said.

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Stock of the company closed 2.08 per cent up at Rs 1,068.35 apiece on BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)