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Srei Infra Finance to raise Rs 1,000 crore via NCD

Press Trust of India / New Delhi 23 Aug 16 | 01:57 PM

Kolkata based Srei Infrastructure Finance Ltd (Srei) on Tuesday said it will raise Rs 1,000 crore through a public offer of non-convertible debentures (NCDs).

The company said it has filed the draft prospectus with BSE and NSE as well as market regulator Sebi for the public issue of secured redeemable NCDs of face value of Rs 1,000 each aggregating up to Rs 1,000 crore.

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The NCDs will be issued in one or more tranches, the company said in a regulatory filing.

"The object of the proposed issue is to raise funds for various leading/financing activities to repay the company's existing loans and business operations," Srei said.

It will list the NCDs on both the exchanges NSE and BSE.

Srei said the NCDs have been rated 'BWR AA+' by Brickwork Ratings India, which means the instruments carry a very low credit risk and have degree of safety with regard to timely servicing of financial obligations.

Shares of the company were trading at Rs 75.40, up 1.69 per cent, on BSE.

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