SREI NCDs | srei
 

Key Highlights

  • All Categories of Investors can apply in NCDs of different tenors — 5 years 3 months, 7 years, 10 years
  • 9.55*% Highest coupon per annum for all Categories of Investors for Series VIII which is for 10 years tenor
  • 0.15^% additional incentive for existing investors and senior citizens
  • Minimum application size is Rs.10,000 (10 NCD) across all Series and in multiples of 1(one) NCD of Rs.1000/- each thereafter
  • Monthly, Annual and Cumulative interest payment option available
  • The Issue is rated "BWR AA+" (BWR Double A Plus) (Outlook: Stable) by Brickwork Ratings India Private Limited ("BRICKWORK") and 'SMERA AA+/Stable' (SMERA Double A plus/Stable) by SMERA Ratings Limited ("SMERA")
  • There is no tax deduction at source (TDS) in case of application through Demat mode
  • For successful non-ASBA investors, an interest of 8% per annum will be provided on the application money
  • The NCDs are proposed to be listed on the BSE Limited and NSE to provide liquidity. For the purpose of this issue BSE shall be the Designated Stock Exchange
  • Individual Category can apply for Allotment of NCDs either in physical or DEMAT mode except Series I, Series III, Series IV, Series VI, Series VII and Series IX which would be allotted compulsorily in dematerialized form to investors of all Categories
  • Institutional and Non Institutional Category can apply for Allotment of NCDs in dematerialized form only irrespective of any Series
  • Allotment of NCDs will be on first come, first serve basis*.

Issue Structure

Click here to view the issue structure

*** Our 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. ^Additional Incentive of 0.15% p.a. will be given to Category III Investors in the proposed Issue who are also holders of NCD(s)/Bond(s) previously issued by our Company and/ or Srei Infrastructure Finance Limited (“SIFL”) in past public issues of Secured NCDs and/or are equity shareholder(s) of SIFL and/or senior citizens and/or Existing Employees of Srei Infra and/or Company on the Deemed Date of Allotment and applying across all series provided the NCDs issued under the proposed Issue are held by the investors on the relevant Record Date applicable for payment of respective coupons in respect to Series I, Series II, Series IV, Series V, Series VII and/or Series VIII NCDs and on relevant Record Date for redemption in respect to Series III, Series VI and Series IX. The maturity amount at redemption inclusive of additional incentive, for each NCD held at maturity date would be Rs 1,607/- per NCD for Series III, Rs 1,895 /- per NCD for Series VI and Rs 2,525 /- per NCD for Series IX respectively.

About Srei Equipment Finance Limited ("SEFL")

  1. SEFL is one of India's leading non-banking financial companies in the organized equipment financing sector with a principal focus on financing infrastructure equipment. It is registered with RBI as a non-deposit taking systematically important, Non-Banking Financial Company (“NBFC”). It provides financial products and services to companies operating in the construction, mining, technology and solution, healthcare, ports & railways, oil and gas, agriculture and transportation sectors. Financial products offered by SEFL comprise loans, leases, rentals and fee-based services.
  2. SEFL enjoys a pan-India presence in approximately 21 states, including 89 branchs with more than 60,000 customers as on March 31, 2017.
  3. SEFL's distribution network includes SEP (Srei Entrepreneurs Partners), relationship managers, dealers, and manufacturers.
  4. We follow stringent credit and risk policy in conformity with business plan to ensure asset quality of our loans and underlying security.
  5. SEFL is a wholly owned subsidiary of Srei Infrastructure Finance Limited (Srei Infra). Srei Infra is a well-established brand in infrastructure financing domestically.
  6. SEFL has achieved a total AUM of Rs.212,318 million, Net Worth of Rs.24,727 million and PAT of Rs.14,88 million as on March 31, 2017.
PRODUCT DISCLAIMER

The Issue shall remain open for subscription on Working Days from 10 A.M. to 5 P.M. (Indian Standard Time) during the period indicated above, except that the Issue may close on such earlier date or extended date as may be decided by the Board/ Executive Committee of Directors, as the case maybe, subject to necessary approvals. In the event of an early closure or extension of the Issue, our Company shall ensure that notice of the same is provided to the prospective investors through advertisements in a leading national daily newspaper with wide circulation on or before such earlier date of Issue Closure or initial Issue Closing Date, as the case may be. On the Issue Closing date, the Application Forms will be accepted only between 10 a.m. to 3 p.m. (Indian Standard Time) and uploaded till 5 p.m. or such extended time as may be permitted by the Stock Exchanges. For further details please refer to “General Information” on page 41 of the Prospectus.

Capitalized term use and not define shall have the same meaning assigned to such terms in the Prospectus dated July 10, 2017.

^Additional Incentive of 0.15% will be given to Category III Investors in the proposed Issue who are also holders of NCD(s)/Bond(s) previously issued by our Company and/ or SIFL in past public issues of Secured NCDs and/or are equity shareholder(s) of Srei Infrastructure Finance Limited (“SIFL”) and/or senior citizens and/or Existing Employees of Srei Infra and/or Company on the Deemed Date of Allotment and applying across all series provided the NCDs issued under the proposed Issue are held by the investors on the relevant Record Date applicable for payment of respective coupons in respect Series I, Series II, Series IV, Series V, Series VII and/or Series VIII NCDs and on relevant Record Date for redemption in respect to Series III, Series VI and Series IX. # - Determined on the basis of date of application on the electronic bidding platform of stock exchanges.

Disclaimer Clause of BSE: “It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Prospectus has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause of BSE Limited”.

Disclaimer Clause of NSE: "It is to be distinctly understood that permission given by NSE should not in any way be deemed or construed that the offer document has been cleared or approved by NSE; nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the “Disclaimer Clause of NSE".

Disclaimer of the Issuer: Srei Equipment Finance Limited is, subject to market conditions and other considerations, proposing a public issue of 5,000,000 Unsecured Subordinated Redeemable Non-Convertible Debentures of Face Value of Rs.1,000/- each eligible for inclusion as Tier II Capital (the“Debentures” or the “NCDs”), amounting to Rs.5,000 million (“Base Issue Size”), with an option to retain oversubscription up to additional 5,000,000 NCDs of Rs.1,000/- each for an amount of Rs.5,000 million, aggregating to Rs.10,000 million (“Overall Issue Size”) and is being offered by way of the Prospectus dated July 10, 2017 (The “Prospectus”), has filed with the Registrar of Companies, West Bengal, the Securities and Exchange Board of India, BSE and NSE. The Investors are advised to take any decision to invest in the NCDs pursuant to their examination of the Issuer and on the basis of the disclosures made in the Prospectus. Please see the section titled “Risk Factors” beginning on page 16 of the Prospectus for the risks in this regard.

Availability of Prospectus: The Prospectus is available on our website at www.srei.com, on the website of the stock exchange at www.bseindia.com" www.bseindia.com and www.nseindia.com and also on the respective websites of the Lead Managers at www.edelweissfin.com, www.akcapindia.com, http://www.srei.com" www.srei.com, www.spacapital.com and www.trustgroup.in. Investors proposing to participate in the Issue should invest only on the basis of information contained in the Prospectus dated July 10, 2017. Physical copies of the Prospectus can be obtained from the Company’s Registered Offices and Corporate offices, Offices of the Lead Managers, Lead Brokers and sub-brokers, Trading Members and Designated Branches of the SCSBs