SREI Infrastructure Finance to raise Rs 1000 crores through NCD issue

SREI Infrastructure Finance Ltd has announced that the Board of Directors of the Company at its meeting held on April 29, 2009, inter alia, has decided in principle to raise upto a maximum of Rs 1,000 Crores through Pubiic Issue of Non Convertible Debentures (NCDs), in one or more tranches, to meet the Company's requirement of funds for its long term working capital and other general corporate purposes. The Board has authorized Committee of Directors (COD) of the Company to decide on the terms including size, Coupon Rate, timing etc. of the proposed NCDs.

The stock closed on April 29, 2009 at Rs.38.95, up by Rs.1.45 or 3.87%. The stock hit an intraday high of Rs.39.45 and low of Rs.37.30.

The total traded quantity was 449337 compared to 2 week average of 1478996.

Source : Equity Bulls

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