Srei Infrastructure Finance plans to raise up to Rs 200 crore

KOLKATA: Srei Infrastructure Finance is planning to issue secured redeemable non-convertible debentures ( NCDs) of Rs 1,000 each aggregating to Rs 200 crore with an option to retain over-subscription upto Rs 1000 crore.

The issue will open for subscription on July 1, 2015 and is scheduled to close on July 20, 2015. The company has filed the prospectus for the same with the registrar of companies (RoC), West Bengal, on June 26, 2015 and with Sebi and BSE on June 29, 2015.

The NCDs have been rated CARE AA- (double A minus) by CARE and BWR AA (BWR Double A) by Brickwork indicating high degree of safety regarding timely servicing of financial obligations, a company release stated. The NCDs are proposed to be listed on BSE.

Elaborating on the proposed NCD issue, Srei Infrastructure Finance liability and treasury management - group chief executive officer J. Moses Harding said: "NCDs offer attractive returns for retail investors compared to similar investment products. We are mobilising resources in anticipation of higher demand for infrastructure loans."

ICICI Securities, A. K. Capital Services, Edelweiss Financial Services, SPA Capital Advisors and Srei Capital Markets are lead managers to the Issue. Srei Capital Markets will be involved in marketing of the issue.

Bajaj Capital, Integrated Enterprises (India), Karvy Investor Services, RR Investors Capital Services, SMC Capitals and Karvy Computershare are co-lead managers to the issue.

Axis Trustee Services is appointed as debenture trustee to the issue and Karvy Computershare, registrar to the issue.