Srei Infra shares jump 8% on fund raising plans

Shares of Srei Infrastructure Finance surged 8 per cent today as the company plans to raise up to Rs 1,000 crore through the issuance of non-convertible Debentures (NCDs).
The stock gained 8.01 per cent to settle at Rs 37.75 on the BSE. In intra-day, it rallied 8.72 per cent to Rs 38.
At the NSE, shares of the company jumped 7.72 per cent to Rs 37.65 at close.
The issue that opened for subscription today, is scheduled to close on July 20, 2015.
In a statement, the company yesterday 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 up to 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.
The NCDs are proposed to be listed on BSE.
Meanwhile, in the broader market the BSE Sensex ended at 28,020.87, up 240.04 points.