Srei Equipment Finance Limited is proposing a public issue of unsecured, subordinated, redeemable non-convertible debentures (NCDs).
Srei in a statement said the NCDs will be of face value Rs 1,000 each amounting up to Rs 500 crore (Base Issue Size) with an option to retain over-subscription up to additional Rs 500 crore.
The issue opens on July 17 and will close on July 31, with an option of early closure. The NCDs offer an annualised coupon of up to 9.55 per cent per annum, the statement said.
The NCDs carry credit ratings of BWR AA+ by BRICKWORK and SMERA AA+ by SMERA.
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