Srei Infra Finance to raise upto Rs 1000cr; NCD opens tomorrow

Srei Infrastructure Finance plans to raise up to Rs 1,000 crore through the issuance of non-convertible Debentures (NCDs).
The issue, which is going to open for subscription tomorrow, is scheduled to close on July 20, 2015.
In a statement, the company said it plans to come out with a "public issue of secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 1,000 each amounting up to Rs 2,000 million (base size, with an option to retain over -subscription upto Rs 10,000 million (the overall size) within the residual shelf limit, i.E, up to Rs 11,738.56 million."
The infrastructure finance company has a network of 99 offices across the country. The firm's consolidated asset under management was Rs 35,240 crore at the end of March 2015.

"NCDs offer attractive returns for retail investors compared to similar investment products. We are mobilising resources in anticipation of higher demand for infrastructure loans," Srei Group CEO (Liability and Treasury Management) J Moses Harding said.
ICICI Securities, A K Capital Services, Edelweiss Financial Services, SPA Capital Advisors and Srei Capital Markets are lead managers to the issue.
The NCDs are proposed to be listed on BSE.
Shares of the company were trading at Rs 35 apiece on BSE, up 2.49 per cent from the previous close.