Srei Infrastructure Finance plans to raise up to Rs 2,500 cr through NCDs

By: | Published: May 3, 2015 12:10 AM

Srei said it is planning to raise up to Rs 2,500 crore by way of public issue of non-convertible debentures (NCDs) in this financial year.

Srei Infrastructure Finance on Saturday said it is planning to raise up to Rs 2,500 crore by way of public issue of non-convertible debentures (NCDs) in this financial year.

In a stock exchange filing, the Kolkata-based company said its board of directors has approved the fund raising plan through NCDs in one or more tranches.

The board has also taken a decision to raise up to Rs 10,000 crore through issuance of non-convertible debt securities on private placement basis, subject to the shareholders’ approval at the annual general meeting of the company.

Srei Infrastructure Finance has clocked a whopping 259% year-on-year rise in consolidated net profit to Rs 13.47 crore for the quarter ended March 2015 from Rs 3.75 crore in the same period a year ago.

Total income from operations for the March quarter, however, declined 10.4% year-on-year (y-oy) to Rs 753.86 crore compared to Rs 841.57 crore in the corresponding period previous fiscal.

The infrastructure finance company reported a consolidated net profit of Rs 129.11 crore during the year ended March 2015 compared to Rs 138.51 crore recorded during the previous year.

The total consolidated income for last financial year was Rs 3,360.32 crore against Rs 3,260.30 crore during the financial year 2013-14, as per a release.

For Updates Check Company News; follow us on Facebook and Twitter

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition