Srei Infrastructure NCD issue oversubscribed by 1.03 times
The NCD issue of Srei Infrastructure Finance was over-subscribed by 1.03 times on the final day of the offer today.
MUMBAI: Reflecting the strong investor demand, the non-convertible debenture (NCD) issue of Srei Infrastructure Finance was over-subscribed by 1.03 times on the final day of the offer today.
An NCD is a type of loan-linked security issued by a company cannot be converted into stock and usually carries a higher interest rate than a convertible debenture.
As per the latest data available with the stock exchanges, the NCD public issue of Srei Infrastructure Finance, which was opened on September 20, received bids worth Rs 76.93 crore, as against Rs 75 crore on offer.
The company plans to raise NCDs worth Rs 75 crore but has kept the options open to retain another Rs 75 crore in case of over-subscription of the issue.
The funds raised through the issue would be used for financing various activities and working capital requirements.
Experts said investors are getting attracted to good returns being offered in by the NCD issue.
Earlier this week, Muthoot Finance issue had got over subscribed by 1.15 times.
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