Srei Infra to raise Rs.1,500 crore by debentures

Kolkata-based non-banking finance company Srei Infrastructure Finance Tuesday said its board has okayed to raise funds up to Rs.1,500 crore by public issue of debentures in one or more tranches this fiscal.

"The board has approved to raise funds by way of a public issue of secured, redeemable, non-convertible debentures not exceeding Rs.15,000 million, in one or more tranches during the financial year 2013-14," the company said in a filing to the BSE.

Srei said its board has also approved to raise up to Rs.500 crore in one or more tranches through issue of preference shares.

"The board has approved the proposal to create, offer, issue and allot redeemable non-convertible preference shares upto an amount not exceeding Rs.500 crore in one or more tranches," it said.