What to watch. Srei Equipment: eyes on NCD issue

The ₹500-crore public issue of secured redeemable NCDs of Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, opens for subscription on Wednesday. The issue, which is proposed to be listed on the NSE and the BSE, will close on January 20. Srei Equipment Finance said the NCDs offer an annualised coupon of up to 9.75 per cent per annum. The money will be used to repay existing loans and fund its business operations.