Srei Infrastructure arm plans to raise Rs 500 cr via NCDs

New Delhi: Srei Infrastructure Finance Ltd on Monday said its subsidiary plans to raise up to Rs 500 crore through public issue of non-convertible debentures (NCDs).

"Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, is proposing a public issue of secured redeemable NCDs of face value of Rs 1,000 each aggregating up to Rs 500 crore," the Kolkata-based company said in a BSE filing today.

The issue, which is proposed to be listed with the exchanges NSE and BSE, will open on January 3 and close on January 20, 2017.

Srei said the NCDs offer an annualised coupon of up to 9.75 per cent per annum.

Shares of the company were trading 2.30 per cent down at Rs 72.35 apiece on BSE.