Posted on Thursday, December 26, 2013
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
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. With entry barriers, SEBI wants only well informed investors to participate is such offers. With crazy recent listings, SME IPOs have started drawing attention of investors across the board. However, as SME issues have entry barriers and continued low preference from broking community, any reader taking decisions based on any information published here does so entirely at own risk. Above information is based on information available as on date coupled with market perceptions. Author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
About Dilip Davda
Dilip Davda (SEBI registered Research Analyst-Mumbai), a freelance journalist for more than 25 years, is a stock market analyst and news article writer. Since 1985, he has contributed to print media, electronic media and often appears on TV channels as visiting stock analyst. His articles are regularly publishes in Smart Investment (English and Gujarati weekly published from Ahmedabad), Free Press Journal and many other news papers & magazines. He is also a visiting stock analyst on DD News TV Channel.
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