Srei Equipment Finance Limited scheduling its Secured, Rated, Listed Redeemable Non covertible debentures from December 19, 2018 – Januray 18, 2019 having Base Issue Rs.150 Crore with an option to retain over subscription up to Rs.150 Crore aggregating to overall Issue size of Rs.300 Crores.
Investors can get all important information as Price, Date, Prospectus, Credit Rating, Listing, Maturity, allocation ratio, allotment status, subscription details, application form, Lead Managers and Registrar of the Issue.
Summary Of Issue:
|Issuer:-||Srei Equipment Finance Limited|
|Issue Open||December 19, 2018 – Januray 18, 2019|
|Total issue Size||Base Issue Rs.150 Crore with an option to retain over subscription up to Rs.150 Crore aggregating to overall Issue size of Rs.300 Crores.|
|Face Value||Rs. 1,000 Per NCD|
|Nature of Instrument||Secured Redeemable and Unsecured Subordinate Redeemable Non-Convertible Debentures|
|Minimum Application size||Rs.10,000/- ( 10 NCDs) and in multiples of 1 (one) NCD of Rs.1,000/- each thereafter|
|Credit Ratings||“AA+”(Outlook :Stable) by Brickworks and “AA+/Stable” by Acuite Ratings Ltd(Instruments with this rating
are considered to have high degree of safety regarding timely servicing of financial obligations).
|Basis of Allotment||“First come First Serve” Basis|
|Interest on application money||As all Applications are being made under ASBA where Application Amount is blocked in the ASBA
Account, no interest shall be payable on Application Amount in this Issue.
Note: Pursuant to SEBI Circular no. CIR/CFD/DIL/1/2013 dated January 2, 2013, SCSBs making applications on their own account using ASBA facility, should have a separate account in their own name with any other SEBI registered SCSB. Further, such account shall be used solely for the purpose of making application in public issues and clear demarcated funds should be available in such account for ASBA applications.
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Srei Equipment Finance Limited NCD
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Allocation Ratio of Srei Equipment Finance Limited NCD (Category Wise)
|I – Institutional||20% of the Overall Issue Size i.e (Rs.60 Crore)|
|II – Non Institutional||20% of the Overall Issue Size i.e (Rs.60 Crore)|
|III – Individual||60% of the Overall Issue Size i.e (Rs.180 Crore)|
Eligibility to receive additional incentive
For all category of Investors in the proposed Issue and who are holders of NCD(s)/Bond(s) previously issued by the company and/or Srei Infrastructure Finance Ltd (“SIFL”) and/or are equity shareholder(s) of SIFL and/or Senior Citizens and/or are existing employees of Srei Group on the Deemed Date of Allotment and who have subscribed for Series III, IV, VI, VII and/or Series IX NCDs shall be eligible for additional incentive of 0.25% p.a. provided the proposed NCDs are held by the investors on the relevant Record Date applicable for payment of respective coupons in respect Series III, IV, VI, VII and/or Series IX NCDs and are NCD Holders on the Record Date for redemption of NCD in case of Series III, IV, VI, VII and/or Series IX NCDs.
For all category of Investors in the proposed Issue and who are holders of NCD(s)/Bond(s) previously issued by the company and/ or SIFL and/or are equity shareholder(s) of SIFL and/or Senior Citizens and/or exiting employees of Srei Group on the Deemed Date of Allotment applying in Series V and/or Series VIII NCDs, the maturity amount at redemption along with the additional yield would be Rs.1,492/- per NCD , and Rs.1,667/- per NCD respectively.
Interest payment Date
Monthly Option: (Series III and VII ) the interest is to be paid on monthly basis. Interest will be calculated from the 15th day till 14th day of every subsequent month during the tenor of such NCDs and paid on the 15th day of every subsequent month. For the first interest payment for NCDs under the monthly options, interest from the deemed date of allotment till the 14th day of the subsequent month will be clubbed and paid on the 15th day of the next subsequent month.
Annual Option: (Series II, IV, VII & IX) interest is to be paid on an annual basis, relevant interest will be made on March 31st every year for the amount outstanding. The first interest payment will be made on March 31, 2019 for the period commencing from the Deemed Date of Allotment till March 30, 2019. Subject to the last interest payment will be made at the time of maturity of the NCD on a pro rata basis.
Srei Equipment Finance Limited NCD Subscription details
|Category||Subscription Figure in crore *16 Jan 2019, 5pm|
* will be update after issue opening
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Lead Managers To The Issue:-
Edelweiss Financial Services, IIFL Holdings, Trust Investment Advisors, Tipsons Consultancy Services
Registrar To The Issue:-
Karvy Computershare Private Limited
For More Details Contact us 011-42445800 / 9650901058
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