Srei Infrastructure Finance Ltd plans to raise Rs 150 crore through an NCD issue by entering the debt capital market.
It came out with a public issue of secured, redeemable non-convertible debentures (NCDs) of face value of Rs 1,000 each for up to Rs 75 crore, with an option to retain over-subscription up to Rs 75 crore aggregating to a total of Rs 150 crore.
The issue opened for subscription on May 9 and will close on June 9 with an option for early closure or extension by such period, which may be decided by the board of directors of the company or a duly constituted committee thereof.
"The NCD offers an annualised return up to 12 per cent p.a...The funds raised through this issue will be used for various financing activities, to repay existing loans and our business operations, including for our capital expenditure and working capital requirements, subject to applicable statutory and/or regulatory requirements," the company said in a statement.
ICICI Securities Ltd, A.K. Capital Services Ltd, SPA Capital Advisors Ltd and Srei Capital Markets Ltd are the lead managers to the issue. Karvy Investor Services Ltd, Integrated Enterprises (India) Ltd, RR Investors Capital Services Private Ltd, SMC Capitals Ltd and Bajaj Capital Ltd are the co-lead managers to the issue. Axis Trustee Services Ltd is the debenture trustee to the issue and Karvy Computershare Pvt Ltd is registrar to the issue.