Published on Thursday, December 26, 2013 by Dilip Davda | Modified on Tuesday, September 13, 2016
SREI Infra is coming out with a Secured Redeemable Non-Convertible debentures having face value of Rs. 1000 each with a total offer size of Rs. 100 crore. The issue opens for subscription on 30.12.13 and will close on or before January 31, 2014. Minimum application is to be made for Rs. 10000 (i.e. 10 NCDs and thereafter in multiple of 1 NCD) and the company is offering coupon rates ranging from 11.00 % to 12% depending on the term ( 2, 3 and 5 years) and the category and the scheme that also offers Annual, Cumulative and Monthly interest payments. As usual retail masses are lured with higher coupon rates. Over and above the company is offering up to a maximum of 0.25% extra to its existing family of investors in equity and earlier debt offers. Post offer the securities will be listed on BSE and NSE. Trading will take place in demat mode only. Issue is lead managed by ICICI Securities Ltd, AK Capital Services Ltd., Darashaw & Co Pvt. Ltd., SREI Capital Markets Ltd., and co-lead managers are Karvy Investor Services Ltd., Integrated Enterprises (I) Ltd., RR Investors Capital Services Pvt. Ltd., SMC Capital Ltd and Bajaj Capital Ltd. Axis Trustee Services Ltd. is the Trustee to the offer and Karvy Computershare Pvt Ltd is the registrar to the offer. The offer is graded by CARE as CARE AA- and by Brickworks Rating as BWR AA that is considered to have high degree of safety regarding timely servicing of financial obligations.
Remarks: Moderate Investment
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Above information is based on RHP and other documents available as of date coupled with market perception. Author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
About Dilip Davda
Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.
Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.
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