The proceeds will be used for lending to small road transport operators and MSMEs in rural and semi-urban areas in low-income states
It is part of the company's Tranch 2 issue of NCDs, with a base size of Rs 3 bn and an option to retain up to Rs 10.5 bn from oversubscription
Focus on increasing the share of public deposits in borrowings and lower-term loan dependence should enable STFC protect its margin amid rising interest rates, observe analysts
The stock was up 7% at Rs 1,218, extending its 3% gain on the BSE on Monday, after the company said it continuously evaluates various opportunities for enhancing shareholders' value.
Overall margins to improve, given 20% growth from rural segment