Srei Equipment to raise up to Rs 300cr in NCDs

Srei Equipment Finance Ltd (SEFL), a wholly-owned subsidiary of Srei Infrastructure Finance Ltd, proposes to raise up to Rs 300 crore through public issue of secured and unsecured non-convertible debentures.

The base size is Rs 150 crore with an option to retain over-subscription for an amount up to Rs 150 crore.

"The ongoing government's thrust on infrastructure development such as Bharatmala, Sagarmala, urban infrastructure, railways, irrigation, etc, will continue to support the demand for construction, mining and allied equipment. This issue will provide an impetus to leverage on the growth opportunities," SEFL CEO, Devendra Kumar Vyas said.

The issue will open on December 19 and close on January 18, with an option of early closure.

Investors have the option of applying across various series of NCDs having tenors of 400 days to 10 years. The NCDs offer a maximum annualised coupon of up to 10.75 per cent per annum.