The Hindu Business Line : Srei BNP NCD issue oversubscribed

Kolkata, Aug. 31 Non-banking infrastructure finance company Srei BNP Paribas said on August 25 that the private placement of its Rs 250-crore non-convertible debentures was oversubscribed by Rs 30 crore.

According to a company note, the first tranche of placements of Rs 250 crore NCDs saw a subscription of more than Rs 280 crore. The issue opened on August 10 and closed on August 24.

The issue had a minimum subscription size of Rs 5 lakh. The NCDs would be listed and made available for trading at wholesale debt segment of NSE.

The lead arrangers to the issue were ICICI Securities, Axis Bank, Enam Securities, JM Financial Consultants, Kotak Mahindra Bank and Tata Capital Markets.

The company plans to raise Rs 1,000 crore through NCDs during this financial year. The company would open its second tranche with a lower interest rate, in view of the over-subscription to the first tranche, the note said.

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