Kolkata based Srei Equipment Finance Limited is a leading financier in the Construction, Mining and allied Equipment (CME) sector. Besides CME, it has also diversified into the financing of IT and allied equipment, Medical and allied equipment, Tippers, Farm equipment and Other assets.
The company holds approximately 33.00% market share in Fiscal 2018. It offers loans, for new and used equipment, and leases.
As of September 30, 2018, Srei has partnerships with 270 OEMs. The company offers its products to a wide range of customers, from 'First Time Users' ("FTUs") and 'First Time Buyers' ("FTBs") to fleet owners, mid-size contractors, corporations and project owners. It has a presence in 21 states through 90 branches and 4 offices including the head office in Kolkata.
As of June 30, 2018, the Net Worth of the company was Rs 27,902.40 million.
The AUM were Rs 300,727.70 million, Rs 212,318.10 million and Rs 185,977.80 million, for 2018, 2017 and 2016 respectively.
The PAT was Rs 2,634.90 million, Rs 1,488.40 million and Rs 1,152.60 million, for 2018, 2017 and 2016 respectively.
|Issue Open||Dec 19, 2018 - Jan 18, 2019|
|Security Name||SREI Equipment Finance Ltd|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)|
|Issue Size (Base)||Rs 300.00 Crores|
|Issue Size (Shelf)||Rs [.] Crores|
|Issue Price||Rs 1000 per NCD|
|Face Value||Rs 1000 each NCD|
|Minimum Lot size||10 NCD|
|Market Lot||1 NCD|
|Listing At||BSE, NSE|
|Basis of Allotment|
|High Net Worth Individual Investors Portion|
|Retail Individual Investors Portion|
The promoter of the company is Srei Infrastructure Finance Limited.
The objects of the issue are-
1. Lending/ repayment of the loans- minimum 75% of the Net Proceeds of the Issue.
2. General Corporate Purposes- up to 25% of the Net Proceeds of the Issue.
This issue is rated BWR/AA+ (stable) by Brickwork Ratings and ACUITE AA+/ (stable) by ACUITE Ratings. Issues with such ratings are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.
These NCDs have tenures of 400 days, 3 years, 5 years and 10 years with interest payment options on Monthly, Annually or Cumulative basis as per the choice of investors. This instrument has coupon rates ranging from 9.75% to 10.75%.
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