Issue Opens | Monday, July 17, 2017 | Issue Price | Rs. 1000/- per NCD |
Issue Closes | Monday, July 31, 2017 | Face Value | Rs. 1000 per NCD |
Registrar | Karvy Computershare Private Ltd. | Minimum Application | Rs. 10,000 (10 NCDs) and in multiple of Rs. 1,000 (1 NCD) thereafter across all series |
Listing On | NSE & BSE | Debenture Trustee | Axis Trustee Services Ltd. |
Credit Ratings | "SMERA AA+/Stable" by SMERA Ratings Ltd. and "BWR AA+/Stable" by Brickwork Ratings India Private Ltd. | ||
Lead Managers | Edelweiss Financial Services Ltd., A. K. Capital Services Ltd., Trust Investment Advisors Private Ltd. and SPA Capital Advisors Ltd. | ||
Issue Size | 50,00,000 |
Series | I# | II*** | III# | IV# | V | VI# | VII# | VIII | IX# |
Frequency | Monthly | Annual | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual | Cumulative |
Tenure | 5 Years 3 Months | 7 Years | 10 Years | ||||||
Coupon (% per annum) in Category I, II & III | 9.25% | 9.30% | NA | 9.35% | 9.40% | NA | 9.50% | 9.55% | NA |
Effective Yield (per annum) in Category I, II & III | 9.65% | 9.33% | 9.30% | 9.75% | 9.42% | 9.40% | 9.92% | 9.57% | 9.55% |
***The Company shall allocate and allot Series II NCDs wherein the Applicants have not indicated their choice of the relevant NCD Series.
#Series I, Series III, Series IV, Series VI, Series VII and Series IX NCDs would be allotted compulsorily in dematerialized form to all categories of Investors.
SREI Equipment Finance Ltd. believe they are one of the leading non-banking financing companies in the organized equipment financing sector in India with a principal focus on financing infrastructure equipment. They are registered with the RBI as a non-deposit taking systemically important, non-banking financial company ("NBFC"). They provide financial products and services to companies operating in the construction, mining, technology and solutions, healthcare, ports and railways, oil and gas, agriculture and transportation sectors. The company's financial products and services comprises of loans, leases, rentals and fee-based services.
They have a widespread network of offices across India to cater to the needs of a diverse customer base across their various business segments and have been a key driver of their growth over the years. As of March 31, 2017, they have presence in approximately 21 states, including 89 branches across India. They have strategically expanded their marketing network and operations enabling them having relationships with more than 60,000 customers. Their disbursements for the year ended March 31, 2017 were Rs. 117,148.76 million. Their distribution network includes their entrepreneur partners ("SEPs"), relationship managers and dealer relationship managers. SEPs help them in sourcing and originating business and maintaining customer relationships. In addition, they have assigned relationship managers for all their customers and dealer relationship managers assigned for specific dealers, which helps them develop long-term relationships with their customers and also enables them to capitalize on local knowledge of the market. Their relationship managers are involved throughout the entire value chain for a customer and are responsible for customer origination, loan administration and monitoring loan recovery and also provide support to the SEPs. In addition, they presently run certain innovative and targeted marketing schemes such as "Paison Ki Nilami", "Khul Ja Sim Sim", "Khushiyon Ki Barish", "Srei Partnership Week", Asset Power, Money Power, loyalty programs, spare part financing schemes aimed at the Retail and SME segment, which have enabled them to increase their brand awareness and promote their financing products.
The company net proceeds raised through this Issue will be utilized for following activities in the ratio provided as below:
1. For the purpose of lending/ repayment of loan - minimum 75% of the Net Proceeds of the Issue
2. 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.
Allotment is on First Come First Serve Basis
Click here to download the prospectus of this NCD Issue.
Category I includes Institutional Investors | Category II includes Non Institutional Investors | Category III includes Individuals