SREI Equipment Finance NCD: SREI Equipment Finance Limited is issuing its NCD (NonConvertible Debenture) from 19-Dec-2018 to 18-Jan-2019.
SREI Equipment Finance NCD (NonConvertible Debenture) Details
| Issue Type | Secured Redeemable Non-Convertible Debentures |
| Issuer | SREI Equipment Finance Limited |
| Issue Opens | 19-Dec-2018 |
| Issue Closes | 18-Jan-2019 |
| Interest | Ranging from 9.75% to 10.75% with additional incentives (Depending on the Series and Category of investors) |
| Face Value | Rs 1,000/- per NCD |
| Issue Size | Rs 3,000,000,000 (Rs 3 Thousand Million) |
| Minimum Order | 10 NCD (Rs 10,000/-) |
| Listing | BSE |
(Read: Debenture – Fixed Income Investment)
Objects of the SREI Equipment Finance NCD Issue
According to the SREI Equipment Finance Ltd, the net proceeds raised through this issue will be utilized for following activities in the ratio provided as below:
- For the purpose of lending/ repayment of loan – minimum 75% of the Net Proceeds of the Issue.
- For general corporate purposes – up to 25% of the net proceeds of the issue. The unutilized amount if any will be used for purpose of lending/ repayment of the loan.
Rating of SREI Equipment Finance NCD
- Brickwork Ratings India Private Limited: BWR AA+/Stable
- ACUITE Ratings Limited: ACUITE AA+/Stable
Maturity and Redemption
Please refer to the page 215 of draft prospectus.
About SREI Equipment Finance Limited
This company was founded in the year 2006 in Kolkata, West Bengal. It is one of the major equipment finance companies in India. It operates across 21 states with 89 branches and 4 offices. As of 30-Sep-2017, the company has more than 64,000 customers who are fresh users, fleet owners, contractors, large corporations and project owners.
The company finances for the purchase of equipment including construction, mining and allied equipment, tippers, IT and allied equipment, farm equipment and other assets. They are also engaged in providing equipment on leases as and when required by the customers across the business verticals. They offer financial services at the different stages of the equipment lifecycle including acquisition, deployment, maintenance, second life financing, and exiting.
Financials
Registered Office: ‘Vishwakarma’, 86C, Topsia Road (South), Kolkata – 700 046, West Bengal, India.
Telephone: +91 33 6160 7734.
Website: www.sreiequipment.com
Please read the draft prospectus for detailed information of Edelweiss NCD issue.
Disclaimer: This post is just an information about the scheme. It does not give any advice or recommendation. Investment in securities is subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
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Tags: #debenture #nonconvertible debenture #bond #Investment #NCD #SREI Euipment Finance
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