Srei Infra seeks SEBI nod to raise NCDs worth Rs 150 cr
Mumbai: Srei Infrastructure Finance Ltd has sought market regulator SEBI's approval to raise up to Rs 150 crore through issue of non-convertible debentures (NCDs).
Srei Infrastructure is planning to garner up to Rs 75 crore through secured, redeemable, NCDs, and would have the option to retain an over-subscription of up to Rs 150 crore, the company said in a draft prospectus filed with Sebi.
An NCD is a type of loan-linked security issued by a company that cannot be converted into stock and usually carries a higher interest rate than a convertible debenture.
"The funds will be used for our various financing activities, to repay our existing loans and our business operations including for our capital expenditure and working capital requirements," Srei Infrastructure said.
The lead managers to the issue are -- ICICI Securities, A K Capital Services, Trust Capital Investment Advisors and Srei Capital Markets.
Besides, Karvy Computershare Private Ltd is the registrar to the issue.