Srei to raise Rs 2,000 crore via NCDs in 2020-21

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Published: January 20, 2020 8:39:44 PM

The Kolkata-based company plans a public issue of Rs 1,000 crore and an equal amount in private placement during the next financial year, it said in an exchange filing.

The proposals will be placed before its board for approval on February 14.The proposals will be placed before its board for approval on February 14.

Srei Infrastructure Finance Ltd on Monday said it plans to raise up to Rs 2,000 crore via NCDs and another Rs 1,000 crore in commercial papers in fiscal 2020-21. The proposals will be placed before its board for approval on February 14.

The Kolkata-based company plans a public issue of Rs 1,000 crore and an equal amount in private placement during the next financial year, it said in an exchange filing.

Srei Infrastructure Finance will also issue commercial papers totalling Rs 1,000 crore on private placement basis. In September last year, it had asked the Securities and Exchange Board of India (Sebi) and Reserve Bank of India (RBI) to allow buy back of non-convertible debentures from retail investors.

A rating agency had recently downgraded Srei’s NCDs, perpetual debt instrument and commercial paper programme aggregating to Rs 5,327 crore.

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