Srei Infrastructure Finance Ltd has sought the Securities and Exchange Board of India's (Sebi) approval to raise up to Rs 150 crore through issue of non-convertible debentures (NCDs).
An NCD is a type of
loan-linked security issued by a company that cannot be converted into stock and usually carries a higher interest rate than a convertible debenture.
Srei Infrastructure is planning to garner up to Rs 75 crore through secured, redeemable, NCDs, and would have the option to retain an over-subscription of up to Rs 150 crore, the company said in a draft prospectus filed with the market regulator.
"The funds will be used for our various financing activities, to repay our existing loans and our business operations including for our capital expenditure and working capital requirements," Srei Infrastructure said.
The lead managers to the issue are ICICI Securities, A K Capital Services, Trust Capital Investment Advisors and Srei Capital Markets. Karvy Computershare Private Ltd is the registrar to the issue.
Shares of Srei Infrastructure closed the day's trade down 0.54 per cent at Rs 36.50 on the Bombay Stock Exchange.
with inputs from PTI 
Special 
