Srei Infra NCD mops Rs 332 cr from market

Issue over-subscribed 1.33 times; firm plans to raise up to Rs 1,500 cr from market

Srei Infrastructure Finance Limited has said its secured redeemable non-convertible debentures (NCDs) was over-subscribed by 1.33 times to Rs 332 crore.

The NCD base issue was Rs 250 crore, it said in a statement.

The issue had opened for subscription on September 29, 2014 and closed on October 31, 2014. Srei had filed shelf prospectus for raising Rs 1,500 crore from the market.

Srei group CEO, (liability and treasury), said: "We are extremely delighted by our NCD issue getting overwhelming support from investors to get oversubscribed 1.33 times in difficult market conditions.

"The oversubscription also indicates a growing retail appetite for secure investment products. As part of our strategy to expand our retail investor base, we will continue to periodically tap the market with NCDs".