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Kolkata based Srei Equipment Finance Limited is a leading financier in the Construction, Mining and allied Equipment (CME) sector. Besides CME, it has also diversified into the financing of IT and allied equipment, Medical and allied equipment, Tippers, Farm equipment and Other assets.
The company holds approximately 33.00% market share in Fiscal 2018. It offers loans, for new and used equipment, and leases.
As of September 30, 2018, Srei has partnerships with 270 OEMs. The company offers its products to a wide range of customers, from 'First Time Users' ('FTUs') and 'First Time Buyers' ('FTBs') to fleet owners, mid-size contractors, corporations and project owners. It has a presence in 21 states through 90 branches and 4 offices including the head office in Kolkata.
Financial Performance-
As of June 30, 2018, the Net Worth of the company was Rs 27,902.40 million.
The AUM were Rs 300,727.70 million, Rs 212,318.10 million and Rs 185,977.80 million, for 2018, 2017 and 2016 respectively.
The PAT was Rs 2,634.90 million, Rs 1,488.40 million and Rs 1,152.60 million, for 2018, 2017 and 2016 respectively.
| Issue Open | August 19, 2019 - September 11, 2019 |
| Security Name | Srei Equipment Finance Ltd |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Shelf) | Rs 400.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | BWR AA/Negative, Acuite AA-/Stable |
| Tenor | 1 year/ 2 year/ 3 year/ 5 year |
| Series | Series I to Series X |
| Payment Frequency | Monthly/ Quarterly/ Annual/ Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Category 1 | 20% |
| Category 2 | 20% |
| Category 3 | 60% |
| Category |
NCD's Reserved |
|---|---|
| Category 1 | 200,000 |
| Category 2 | 200,000 |
| Category 3 | 600,000 |
| Category 4 | 0 |
| Total NCD's | 1,000,000 |
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | NA | Quarterly | Annual | NA | Monthly | Annual | NA | Monthly | Annual | NA |
| Nature | Secured | |||||||||
| Tenor | 1 year 1 month | 2 year | 3 year | 5 year | ||||||
| Coupon Rate For Category I, II and III | NA | 9.88% | 10.25% | NA | 9.95% | 10.40% | NA | 10.15% | 10.65% | NA |
| Amount on Maturity For Category I & II and III | Rs 1,109 | Rs 1,000 | Rs 1,000 | Rs 1,216 | Rs 1,000 | Rs 1,000 | Rs 1,346 | Rs 1,000 | Rs 1,000 | Rs 1,660 |
The NCDs proposed to be issued under this Issue have been rated "BWR AA" (BWR Double A) (Outlook: Negative) by Brickwork Ratings India Private Limited ("BRICKWORK") pursuant to letter dated July 05, 2019 and
further revalidated by letters dated July 19, 2019 and August 06, 2019 and Acuite AA- (Acuite double A minus) by "Acuite Rating Limited" ("ACUITE") pursuant to letter dated July 30, 2019. Instruments with a rating of "BWR AA" (BWR Double A) (Outlook: Negative) by BRICKWORK and Acuite AA- (Acuite double A minus) by Acuite are considered to have high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.
Srei Infrastructure Finance Limited is the promoter of the company.
The Net Proceeds raised through this Issue (in tranches) will be utilized for following activities in the ratio provided
as below:
I. For the purpose of lending/ repayment of loan - minimum 75% of the Net Proceeds of the Issue.
II. For General Corporate Purposes - up to 25% of the Net Proceeds of the Issue. The unutilized amount
if any will be used for purpose of lending/ repayment of loan.
The SREI Equipment NCD Aug 2019 was subscribed 1.16 times on September 11, 2019 5:00:00 PM. The NCD subscribed .
| Category ? | Subscription (times) |
|---|---|
| Category 3 | 0.93x |
| Category 2 (NII) | 3.00x |
| Category 1 (QIB) | 0.01x |
| Total | 1.16x |
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Srei Equipment Finance Ltd
Vishwakarma, 86C, Topsia Road (South),
Kolkata - 700 046,
West Bengal, India
Phone: +91 33 6160 7734
Email: connect@sreibonds.com
Website: http://www.sreiequipment.com/
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Phone: 04067162222, 04079611000
Email: selfncd5.ipo@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
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