Srei Infrastructure Finance, on Tuesday, launched a public issue of secured redeemable non-convertible debentures (NCDs).
The issue comes at a face value ₹1,000 each amounting to ₹100 crore (base issue size), with an option to retain oversubscription up to ₹400 crore, totalling up to ₹500 crore (tranche 1 issue size).
The issue will close on May 9, said Srei.
The highest coupon is 10.75 per cent a year for investors of all categories for a tenor of five years. For tenor of three years, the highest coupon is 10.5 per cent and for tenor of 400 days the highest coupon is 9.75 per cent. An additional coupon of 0.25 per cent will be offered to existing shareholders of Srei, NCDs/bondholders of both Srei and Srei Equipment Finance, and senior citizens.
The NCDs are proposed to be listed on the BSE.