Srei Rs 300-cr infra bond issue opens tomorrow
Srei Infrastructure Finance Ltd (SIFL) on Friday said its Rs 300-crore retail infrastructure bond issue will hit the market tomorrow.
By PTI | Updated:
MUMBAI: Srei Infrastructure Finance Ltd ( SIFL) on Friday said its Rs 300-crore retail infrastructure bond issue will hit the market tomorrow.
Though the company can raise up to Rs 500 crore from the market this fiscal, it has decided to mop up only Rs 300 crore in the first tranche, the private sector infrastructure lender said in a release said here.
The issue will be open for subscription till January 31. The bonds have a face value of Rs 1,000 and will be issued in four series with an annual interest rate of 8.90 per cent for series 1 and 2, and 9.15 per cent for series 3 and 4.
Under the issue, bonds will have two maturity periods of 10 and 15 years and a lock-in period of five years. The bonds will be listed on the BSE, the release said. "The proceeds of the tranche 1 bonds will be utilised towards infrastructure lending," the company said.
SIFL has kept two categories for the bond - resident individuals and the Hindu Undivided Families (HUFs). The issue has `AA' rating (indicating high degree of safety) from Care Ratings. ICICI Securities, Karvy Investor Services, RR Investors Capital Services and Srei Capital Markets are the lead-managers of the issue.
Though the company can raise up to Rs 500 crore from the market this fiscal, it has decided to mop up only Rs 300 crore in the first tranche, the private sector infrastructure lender said in a release said here.
The issue will be open for subscription till January 31. The bonds have a face value of Rs 1,000 and will be issued in four series with an annual interest rate of 8.90 per cent for series 1 and 2, and 9.15 per cent for series 3 and 4.
Under the issue, bonds will have two maturity periods of 10 and 15 years and a lock-in period of five years. The bonds will be listed on the BSE, the release said. "The proceeds of the tranche 1 bonds will be utilised towards infrastructure lending," the company said.
SIFL has kept two categories for the bond - resident individuals and the Hindu Undivided Families (HUFs). The issue has `AA' rating (indicating high degree of safety) from Care Ratings. ICICI Securities, Karvy Investor Services, RR Investors Capital Services and Srei Capital Markets are the lead-managers of the issue.
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