Srei Equipment Finance Ltd on Monday said it plans to raise up to Rs 500 crore through secured redeemable non-convertible debentures.
The tranche I issue is of face value of Rs 1,000 each, amounting up to Rs 100 crore with an option to retain oversubscription up to Rs 400 crore.
The issue opens on August 19 and closes on September 18, the company, a wholly-owned subsidiary of Srei Infrastructure Finance Ltd, said in a release.
The NCDs have a credit rating of 'BWR AA' with negative outlook, it said.
The coupon rate ranges between 10.65 per cent and 10.25 per cent, depending on the tenure.
The issue is proposed to be listed on the BSE, the release added.
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