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Srei Equipment Finance Ltd NCD (SREI Equipment NCD Aug 2019) Detail

Aug 19, 2019 - Sep 11, 2019

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.

Financial Performance-

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.

SREI Equipment NCD Aug 2019 Detail

Issue OpenAug 19, 2019 - Sep 11, 2019
Security NameSrei Equipment Finance Ltd
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)Rs 100.00 Crores
Issue Size (Shelf)Rs 400.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Credit RatingBWR AA/Negative, Acuite AA-/Stable
Tenor1 year/ 2 year/ 3 year/ 5 year
Series

Series I to Series X

Payment FrequencyMonthly/ Quarterly/ Annual/ Cumulative
Basis of AllotmentFirst Come First Serve Basis

NCD Allocation Ratio

NCD's allocated in each investor category:

Category ?NCD's Allocated
Category 1 (QIB)20%
Category 2 (NII)20%
Category 3 (HNI)60%
Category 4 (RII)0%

NCD's Offered

NCD's offered in each investor category:

Category ?NCD's Reserved
Category 1 (QIB)200,000
Category 2 (NII)200,000
Category 3 (HNI)600,000
Category 4 (RII)0
Total NCD's1,000,000

Coupon Rates

Coupon rates for series 1 to 10

  Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7 Series 8 Series 9 Series 10
Frequency of Interest Payment NA Quarterly Annual NA Monthly Annual NA Monthly Annual NA
Nature Secured
Tenor 1 year 1 month 2 year 3 year 5 year
Coupon Rate For Category I, II and III NA 9.88% 10.25% NA 9.95% 10.40% NA 10.15% 10.65% NA
Amount on Maturity For Category I & II and III ₹1,109 ₹1,000 ₹1,000 ₹1,216 ₹1,000 ₹1,000 ₹1,346 ₹1,000 ₹1,000 ₹1,660

NCD Rating Detail

The NCDs proposed to be issued under this Issue have been rated "BWR AA" (BWR Double A) (Outlook: Negative) by Brickwork Ratings India Private Limited ("BRICKWORK") pursuant to letter dated July 05, 2019 and
further revalidated by letters dated July 19, 2019 and August 06, 2019 and Acuite AA- (Acuite double A minus) by "Acuite Rating Limited" ("ACUITE") pursuant to letter dated July 30, 2019. Instruments with a rating of "BWR AA" (BWR Double A) (Outlook: Negative) by BRICKWORK and Acuite AA- (Acuite double A minus) by Acuite are considered to have high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.

Company Promoters

Srei Infrastructure Finance Limited is the promoter of the company.

Objects of the Issue:

The Net Proceeds raised through this Issue (in tranches) will be utilized for following activities in the ratio provided
as below:
I. For the purpose of lending/ repayment of loan - minimum 75% of the Net Proceeds of the Issue.
II. 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 loan.

SREI Equipment NCD Aug 2019 Prospectus

SREI Equipment NCD Aug 2019 Rating

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SREI Equipment NCD Aug 2019 Reviews

Company Contact Information

Srei Equipment Finance Ltd
Vishwakarma, 86C, Topsia Road (South),
Kolkata - 700 046,
West Bengal, India

Phone: +91 33 6160 7734
Email: connect@sreibonds.com
Website: http://www.sreiequipment.com/

SREI Equipment NCD Aug 2019 Registrar

Karvy Computershare Private Limited
   Karvy Registry House, 8-2-596, St. No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Email: selfncd5.ipo@karvy.com
Website: https://karisma.karvy.com/

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