Shriram Transport Finance Corporation NCD oversubscribed

The NCD from Shriram Transport Finance was oversubscribed on the first day. As of August 1st, the issue was over-subscribed by 10 times, with a bulk of the money coming in from QIB and High Networth Individuals. The retail portion had received 20% subscription on the first day, but appears to be on track towards subscription. The NCDs offer interest between 10.75% and 11.50%, depending on the term chosen and carry an AA+ rating from CARE.