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

Aug 19, 2019 - Sep 11, 2019
Srei Equipment Finance Ltd Logo

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 Open Aug 19, 2019 - Sep 11, 2019
Security Name Srei Equipment Finance Ltd
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 100.00 Crores
Issue Size (Shelf) Rs 400.00 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
Credit Rating BWR AA/Negative, Acuite AA-/Stable
Tenor 1 year/ 2 year/ 3 year/ 5 year
Series

Series I to Series X

Payment Frequency Monthly/ Quarterly/ Annual/ Cumulative
Basis of Allotment First Come First Serve Basis

NCD Allocation Ratio

NCD's allocated in each investor category:

Category ? NCD's Allocated
Category 1 20%
Category 2 20%
Category 3 60%
Category 4 0%

NCD's Offered

NCD's offered in each investor category:

Category ? NCD's Reserved
Category 1 200,000
Category 2 200,000
Category 3 600,000
Category 4 0
Total NCD's 1,000,000

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 Rs 1,109 Rs 1,000 Rs 1,000 Rs 1,216 Rs 1,000 Rs 1,000 Rs 1,346 Rs 1,000 Rs 1,000 Rs 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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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

KFintech Private Limited
   KFintech, Tower-B, Plot No 31 & 32,
   Financial District, Nanakramguda, Gachibowli,
   Hyderabad, Telangana India - 500 032.

Phone: 04067162222, 04079611000
Email: selfncd5.ipo@karvy.com
Website: https://karisma.kfintech.com/