This entry is part 1 of 2 in the series NCD 2015-16

srei equipment finance ncdSREI Equipment Finance Ltd is coming out  with its public issue of Secured, Redeemable, Non Convertible Debentures (NCDs) of face value of Rs. 1000 each aggregating to a total of upto Rs. 250 Cr with an option to retain oversubscription upto 250 Cr aggregating to a total of up to Rs 500 Cr.

The Issue is open for subscription on 9th April 2015 and closes on 30 April 2015.

 

 Product Note

NCD Issue Highlights -SREI Equipment Finance Ltd

IssuerSREI Equipment Finance Ltd
Type of InstrumentSecured Redeemable, NCD
Issue Open09 April 2015
Issue Close30 April 2015 (with option of early closure or extension)
Issue Size250 Cr. with an option to retain oversubscription of 500 Cr.
Face ValueRs. 1,000
Min. Application Size10 NCDs(Rs.10000) & multiply of 1 NCD thereafter (across all series NCD)
Interest Monthly, Annually & Cumulative
Mode of AllotmentD'mat (Category III can apply for Physical Form) *** (Series I , Series IV & Series IV NCDs would be allotted compulsory in D'mat form to all category of Investors)
RatingCARE AA by CARE , BWR AA by Brickwork
Put Call OptionNA
ListingBSE & NSE
Application Money Interest (refunded)
Allotment Money Interest

Specific Term of Issue

OptionsIIIIIIIVV
Tenor36 month 36 month 36 month 39 month 39 month
Coupon - Retail9.75%10.20%NA9.75%10.20%
Effective Yield (p.a.)10.19%10.22%10.21%10.19%10.24%
Face Value10001000100010001000
Maturity10001000133910001000
Interest PaymentMonthlyAnnualCumulativeMonthlyAnnual
Sr. Citizens (Cat-III) Additional ##0.25%0.25%0.25%0.25%0.25%

Senior Citizens : Investor in the proposed NCD who fall under Category III and who are senior citizens on the Deemed Date of Allotment shall be eligible for additional coupon of 0.25% p.a. provided the proposed NCDs are held by the investors on the relevant record date applicable for payment of respective coupon and /or redemption of NCDs across all series.

OptionsVIVIIVIIIIX
Tenor39 month 60 month 60 month 84 month
Base CouponNA9.75%10.25%10.25%
Effective Yield - 10.20%10.19 %10.26%10.26 %
Face Value1000100010001000
Maturity 1372100010001000
Interest PaymentCumulativeMonthlyAnnual Annual
Sr. Citizens (Cat-III) Additional ##0.25%0.25%0.25%0.25%

 Note : 

  • Subject to Applicable Tax deducted at source (TDS)
  • Series I, IV and VII NCDs would be allotted compulsorily in dematerialized form to all category of Investor.
  • NRI’s are not Allowed to Invest

 Cheque Details :

Cheque / DD should be drawn in favour of

” SEFL -NCD 1 Public Issue  Escrow Account” 

About Issue

About Company

SREI Equipment Finance , one of the leading Non Banking financing companies in the organized equipment financing sector in India with a principal focus on financing infrastructure equipment.

SREI Equipment Finance, provide financial products and services to companies operating in the construction, mining, technology and solutions, healthcare ports and railways, oil and gas, agriculture and transportation sector. Their financial products and services comprise loans, leases, rentals and fee base services

The funds raised through this issue will be utilised by the company for various financing activities including lending and investments, to repay existing liabilities or loans and towards business operations including for capital expenditure, working capital requirement and other general corporate purposes.

SREI Equipment Finance Ltd Range of financial products for Construction & Mining, Technology and Healthcare equipment including:

  • Loans for new equipment
  • Loans against existing equipment
  • Loans for procuring used equipment
  • Operating leases for equipment, with both fixed and open residual values
  • Loans and leases for imported equipment and cross border transactions

 

Subscription

DateCategoryIssue SizeSubscribeUnsubscribe
20 April 2015QIB100 Cr.26.37 Cr73.63 Cr
Corporate100 Cr.0.18 Cr99.82 Cr
Retail + HNI300 Cr.333.53 Cr
500 Cr.360.07 Cr139.93 Cr
11 Apr 2015QIB100 Cr100 Cr
Corporate100 Cr0.15 Cr99.85 Cr
Retail + HNI300 Cr46.46 Cr253.54 Cr
Total500 Cr46.62 Cr453.38 Cr
9 AprQIB100 Cr-100 Cr
Corporate100 Cr0.11 Cr99.89 Cr
Retail + HNI300 Cr21.11 Cr278.89 Cr

Listing