Srei Infra plans to raise Rs 600 cr in FY15
Srei Infra plans to raise Rs 600 cr in FY15
Srei Infrastructure Finance plans to raise Rs 600 crore in FY15 through retail bonds. The first issue will hit the market on Friday. In the first round, bonds will be raised for up to Rs 75 crore with an option to retain over-subscription up to Rs 75 crore.
"We would plan to raise a minimum of Rs 600 crore this financial year (FY15) in four tranches, similar to what was done in the last financial year. The objective is to reach out the Srei brand into the retail segment, broaden the investor/lender base and de-risk concentration from bank funding," said Moses Harding, group chief executive officer (liability and treasury management) and chief economist of Srei Infrastructure Finance.
According to the investors' presentation, 60 per cent of the overall issue size is reserved for retail investors and the remaining is for institutional and non-institutional investors.
The tenure of the non-convertible debentures are three years and five years with coupon rates ranging between 10.70 per cent and 12 per cent. The company is also offering additional coupon of 0.25 per cent a year for existing bondholders as well as equity shareholders of the company.
The effective yields are in the range of 11.23 per cent to 12 per cent a year.
The issue opens on Friday and closes on June 9. The minimum application for all the categories is Rs 10,000 and in multiples of Rs 1,000 thereafter. Monthly, annually and cumulative are the three options available for interest payment.
The issue had been rated "AA-" with stable outlook by CARE Ratings and "BWR AA" by Brickwork Ratings.
According to the investors' presentation, funds raised through this issue will be utilised for various financing activity to repay our existi
BS
Thanking you
Regards,
Rajesh Kumar Kathpalia ¤ SMC Global
17,Netaji Subhash Marg,Daryaganj,
New Delhi-110002 Mobile No 9891645052
Email Id: rajesh.ipo@smcindiaonline.com
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Srei Infrastructure Finance plans to raise Rs 600 crore in FY15 through retail bonds. The first issue will hit the market on Friday. In the first round, bonds will be raised for up to Rs 75 crore with an option to retain over-subscription up to Rs 75 crore.
"We would plan to raise a minimum of Rs 600 crore this financial year (FY15) in four tranches, similar to what was done in the last financial year. The objective is to reach out the Srei brand into the retail segment, broaden the investor/lender base and de-risk concentration from bank funding," said Moses Harding, group chief executive officer (liability and treasury management) and chief economist of Srei Infrastructure Finance.
According to the investors' presentation, 60 per cent of the overall issue size is reserved for retail investors and the remaining is for institutional and non-institutional investors.
The tenure of the non-convertible debentures are three years and five years with coupon rates ranging between 10.70 per cent and 12 per cent. The company is also offering additional coupon of 0.25 per cent a year for existing bondholders as well as equity shareholders of the company.
The effective yields are in the range of 11.23 per cent to 12 per cent a year.
The issue opens on Friday and closes on June 9. The minimum application for all the categories is Rs 10,000 and in multiples of Rs 1,000 thereafter. Monthly, annually and cumulative are the three options available for interest payment.
The issue had been rated "AA-" with stable outlook by CARE Ratings and "BWR AA" by Brickwork Ratings.
According to the investors' presentation, funds raised through this issue will be utilised for various financing activity to repay our existi
BS
Thanking you
Regards,
Rajesh Kumar Kathpalia ¤ SMC Global
17,Netaji Subhash Marg,Daryaganj,
New Delhi-110002 Mobile No 9891645052
Email Id: rajesh.ipo@smcindiaonline.com
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To unsubscribe from this group and stop receiving emails from it, send an email to Productupdatesforamc+unsubscribe@googlegroups.com.
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