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Company Overview

Company Overview

SREI Infra entered the segment of infrastructure financing in 1989 in a limited capacity as a construction equipment financier. During the pre-liberalization era India’s infrastructure segment was largely dominated by few players with negligible role for private sector players.

The economic liberalisation in 1991 widened the opportunity for Srei Infra to mobilise resource and fund larger number of customers across regions. Srei Infra persisted through the ups and downs of the business cycles emerged as one of the strong players in the infrastructure financing space with an over 25 year track record of performance and credentials.

The Company was originally incorporated by the name Shri Radha Krishna Export Industries Limited on March 29, 1985 with the Registrar of Companies, NCT Delhi and Haryana (Registration No. 21-55352) in accordance with the Companies Act 1956 as a Public Limited Company to undertake lease and hire purchase financing, bill discounting and manufacture and export of certain goods. The Company obtained its certificate of commencement of business on April 9, 1985. The Company’s name was changed to Srei International Limited on May 29, 1992 and further changed to Srei International Finance Limited with effect from April 12, 1994 to reflect its focus on financial services. The name of the Company was further changed from Srei International Finance Limited to its existing name of Srei Infrastructure Finance Limited on August 31, 2004.
Issue Highlights
Issue opens Monday, January 30, 2017
Issue closes Thursday, February 23, 2017
Allotment First Come First Serve Basis
Face Value Rs. 1000 per NCD
Issue Price Rs.1000 per NCD
Nature of Instrument Secured Non-convertible Debentures
Minimum Application 10 NCDs (rs.10000) & in multiple of 1 NCD
Listing NSE / BSE
Rating 'BWR AA+ (BWR Double A Plus) (Outlook: Stable)' by BRICKWORK
Interest on Application Amount 8.00% per annum
Interest on Refund Amount 6.00% per annum
Lead Manager Edelweiss Financial Services Ltd. & Others
Registrar Karvy Computershare Private Limited
Issue Size Base Issue of Rs. 2,000 million with an option to retain oversubscription upto additional Rs.5,066.36 million, aggregating to the Residual Shelf Limit i.e. Rs. 7,066.36 million.
Cheque in Favor of SIFL NCD 9 - Escrow Account

* Persons resident outside India and other foreign entities are also not allowed

Issue Break up

Category Allocation Issue Size (Amt in Crs)
Base Issue Self Limit
QIB 10% 20 70.66
Corporate 20% 40 141.32
Individual 70% 140 494.64
Total 100% 200 706.63

Effective Yield (p.a.)

Series I II III IV V VI VII VIII
Frequency of Interest Payment NA Annual Monthly Annual NA Monthly Annual NA
Tenor from Deemed Date of Allotment 400 days 3 years 5 years
Coupon (% per annum) for Category I, II & III N.A. 8.50% 8.88% 9.25% N.A. 9.12% 9.50% N.A.
Effective Yield (per annum) for Category I, II & III 8.54% 8.52% 9.25% 9.27% 9.25% 9.50% 9.51% 9.50%
Specific Terms For Each Series of NCDs

SPECIFIC TERMS FOR EACH SERIES OF NCDs

Series I** II III# IV*** V** VI# VII VIII**
Frequency of Interest Payment NA Annual Monthly Annual NA Monthly Annual NA
Minimum Application Rs.10,000 (10 NCDs) across all Series
Face Value/Issue Price Rs.1,000
In Multiples of thereafter 1,000 (1 NCD)
Tenor from Deemed Date of Allotment 400 days 3 years 5 years
Coupon (% per annum) for Category I, Category II & Category III Investor(s) N.A. 8.50% 8.88% 9.25% N.A. 9.12% 9.50% N.A.
Effective Yield (per annum) for Category I, Category II & Category III Investor(s) 8.54% 8.52% 9.25% 9.27% 9.25% 9.50% 9.51% 9.50%
Mode of Interest Payment Through various mode available.
Amount (Rs./ NCD) on Maturity for Category I & Category II & Category III Investor(s)** Rs.1,094/- Rs.1,000/- Rs.1,000/- Rs.1,000/- Rs.1,304/- Rs.1,000/- Rs.1,000/- Rs.1,575/-
Maturity Date (from Deemed Date of Allotment) 400 days 400 days 3 years 3 years 3 years 5 years 5 years 5 years
Institutional, Non Institutional Category Investor(s) and Individual Category Investor(s) can subscribe to all Series of NCDs.
** Subject to applicable tax deducted at source, if any.
*** The Company shall allocate and allot Series IV NCDs wherein the Applicants have not indicated their choice of the relevant NCD Series.
#Series III & Series VI NCDs would be allotted compulsorily in dematerialized form to all categories of Investors.
Investors in the proposed NCD who fall under Category III and who are holder of NCD(s)/Bond(s) previously issued by the Company and SREI Equipment Finance Limited ("SEFL"), in past public issues of Secured NCD\ of the Company and/or SEFL and/ or are equity shareholder(s) of the Company and/or are Senior Citizens and/or are Employees of Srei Group, on Deemed Date of Allotment and who have subscribed for Series III NCDs and/or Series IV NCDs and/or Series V NCDs and/or Series VI NCDs and/or Series VII NCDs and/or Series VIII NCDs shall be eligible for additional coupon of 0.25% p.a. provided the proposed NCDs are held by the Investors on the relevant Record Date applicable for payment of respective coupon in respect of Series III, Series IV, Series VI and Series VII and are NCD Holders on the Record Date for redemption of NCD in case of Series V and Series VIII. For Investors who fall under Category III and who are holder of NCD(s)/Bond(s) previously issued by the Company and/or SEFL in past public issues of Secured NCDs of the Company and/or SEFL and/or are Senior Citizens and/or are Employees of Srei Group on Deemed Date of Allotment applying in Series V and Series VIII NCDs, the maturity amount at redemption along with the additional yield would be Rs.1,315/- per NCD and Rs.1,594/- per NCD respectively.
Who Can Apply
Categories Category I Category II Category III
QIB Portion Corporate Portion Individual Portion
Allocation Ratio 10% of Overall Issue Size 20% of Overall Issue Size 70% of Overall Issue Size
 
  • Public financial institutions, statutory corporations, scheduled commercial banks, co-operative banks Indian multilateral and bilateral development financial institution and regional rural banks, which are authorized to invest in the NCDs;
  • Provident funds, pension funds, superannuation funds and gratuity fund, which are authorized to invest in the NCDs ;
  • Venture capital funds and / or Alternative investment funds registered with SEBI;
  • Insurance companies registered with the IRDA;
  • Insurance funds set up and managed by the army, navy, or air force of the Union of India;
  • Insurance funds set up and managed by the Department of Posts, the Union of India;
  • National investment fund set up by resolution no. F. No. 2/3/2005- DDII dated November 23, 2005 of the Government of India published in the Gazette of India;
  • State industrial development corporations; and
  • Mutual Funds.
  • Companies within the meaning of section 2(20) of the Companies Act, 2013; statutory bodies/ corporations and societies registered under the applicable laws in India and authorized to invest in the NCDs;
  • Trusts including Public/private charitable/religious trusts which are authorized to invest in the NCDs;
  • Scientific and/or industrial research organizations, which are authorized to invest in the NCDs;
  • Partnership firms in the name of the partners;
  • Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009);
  • Association of Persons; and
  • Any other incorporated and / or unincorporated body of persons
  • Resident Indian individuals; and
  • 2. Hindu undivided families through the karta.
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SEBI/ Regulatory Registration Nos.: BSE:INB/INF 010607233 NSE:INB/INF/INE 230607239. Merchant Banking: INM000010973 DP Reg: IN-DP-CDSL-28-99 DP ID - CDSL 12013200
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