SREI Infra 10% Non-Convertible Debentures (NCDs) – September 2016 Issue

by Shiv Kukreja on September 5, 2016

in Investments

This post is written by Shiv Kukreja, who is a Certified Financial Planner and runs a financial planning firm, Ojas Capital in Delhi/NCR. He can be reached at skukreja@investitude.co.in

Markets are often driven by sentiment and there is a slump in the real estate market these days due to negative sentiment. There is a drastic fall in the number of sale-purchase transactions which has resulted in an overdue price correction and squeezed the liquidity from this market. The same liquidity seems to be flowing now to equity and debt markets. Such high levels of liquidity flows have resulted in stock markets and bond prices to touch their 52-week highs.

Encouraged by super demand for two back to back NCD issues of DHFL, SREI Infrastructure Finance Limited is coming out with its issue of non-convertible debentures (NCDs) from this Wednesday, September 7. The issue is scheduled to remain open for three weeks to get closed on September 28.

Size & Objective of the Issue – Base size of this issue is Rs. 250 crore, with the green-shoe option to retain an additional Rs. 750 crore, making it a Rs. 1,000 crore issue. The company plans to use at least 75% of the issue proceeds for its lending activities and to repay its existing loans and up to 25% of the proceeds for general corporate purposes.

Coupon Rate & Tenor of the Issue – The issue will carry coupon rate of 9.35% p.a. payable monthly and 9.75% p.a. payable annually or cumulative for a period of 3 years (36 months) and 9.60% p.a. payable monthly and 10% p.a. payable annually or cumulative for a period of 5 years (60 months). There is one more option of 400 days which offers an effective annual yield of 9.08%.

Picture6

Minimum Investment – Investors need to apply for a minimum of ten bonds in this issue with face value Rs. 1,000 each i.e. a minimum investment of Rs. 10,000.

Categories of Investors & Allocation Ratio – The investors have been classified in the following three categories and each category will have the below mentioned percentage fixed in the allotment:

Category I – Institutional Investors – 20% of the issue i.e. Rs. 200 crore

Category II – Non-Institutional Investors – 20% of the issue i.e. Rs. 200 crore

Category III – Individual & HUF Investors – 60% of the issue i.e. Rs. 600 crore

Allotment will be made on a first-come first-served basis, as well as on a date priority basis i.e. on the date of oversubscription, the allotment will be made on a proportionate basis to all the applicants of that day on which it gets oversubscribed.

NRIs Not Allowed – Non-Resident Indians (NRIs), foreign nationals and qualified foreign investors (QFIs) among others are not eligible to invest in this issue.

Credit Rating & Nature of NCDs – Brickwork Ratings has rated this issue as ‘AA+’. Debt instruments with such a rating are considered to have high degree of safety regarding timely payment of interest and principal. Moreover, these NCDs are ‘Secured’ in nature i.e. in case of any default on its payment of interest or principal, the bondholders will have the right on certain secured assets of SREI Infra.

Listing, Premature Withdrawal & Put/Call Option – These NCDs will be listed on both the stock exchanges i.e. Bombay Stock Exchange (BSE) as well as National Stock Exchange (NSE). The listing will take place within 12 working days after the issue gets closed. Though there is no option of a premature redemption, the investors can sell these bonds on the stock exchanges if NCDs are held in demat form.

Demat Not Mandatory – Demat account is not mandatory to invest in these NCDs as the investors have the option to apply for these NCDs in physical or certificate form as well.

TDS – Interest income earned is taxable with these NCDs and the investors are required to pay tax on the interest income as per their respective tax slabs. TDS @ 10% will be deducted if these NCDs are held in physical/certificate form and annual interest income is more than Rs. 5,000. NCDs held in demat mode will not attract any TDS.

Should you invest in these NCDs?

SREI Infra had its last NCD issue in July 2015. Below pasted is the table having issue details, BSE scrip codes and last traded prices of those NCDs.

Picture8

SREI Infra NCDs always carry low volumes and that is why it is very difficult to calculate its relevant yield to maturity (YTM) for the interested investors. But, If I were to invest in SREI Infra’s NCDs, I would have bought them from the secondary markets as I think it is possible to invest in these NCDs at a YTM between 10.50% and 11.50%. Its current issue offers coupon rates between 9.35% and 10% which are not attractive for me to invest. However, conservative investors, who are not liable to pay any tax or fall in the 10% tax bracket or who trust SREI Infra’s management, can consider investing in these NCDs.

Application Form – SREI Infra NCDs

Note: As per SEBI guidelines, ‘Bidding’ is mandatory before banking the application form, else the application is liable to get rejected. For bidding of your application, any further info or to invest in SREI Infra NCDs, you can reach us at +91-9811797407

{ 76 comments… read them below or add one }

Kris September 6, 2016 at 9:04 AM

Thank you for details on this upcoming IPO. Like your addition of last year’s NCD by SREI for comparison. Those NCDs from July 2015 have appreciated a lot, now trading at 1104.20 (5-year, 11% annual). For this NCD, YTM is 7.86%. So, I would rather subscribe to the latest IPO which yields 10% annually (5-year, 1000 rupees) and save on the brokerage.

Reply

Shiv Kukreja September 6, 2016 at 12:11 PM

Thanks Kris!
I don’t think Rs. 1104.20 is a reliable price to interpret its intrinsic value. As I write, there is a buyer for these NCDs at Rs. 1,047 and a seller at Rs. 1,090. If I compare Rs. 1,104.20 with Rs. 1,051 of the cumulative option, then in no way Rs. 1,104.20 price is justified. Price of the yearly interest option must be less than the price of the cumulative option by at least 4-5%. Considering this price anomaly, I don’t think your way of comparing these two NCDs is correct.

Reply

Kris September 7, 2016 at 7:49 AM

Thanks Shiv, I used the number 1104.20 from your table above under “Last Traded Price”. Also, it is difficult to get a good feel for price actions since bond trading volume is low and the spread between bid and ask is wide. Hopefully soon we will have a robust bond market that should remove the anomaly you mentioned.

Reply

SUDHINDRANATH September 19, 2016 at 9:28 PM

Sreiv ncd issue is CLOSED?

Reply

Shiv Kukreja September 20, 2016 at 12:29 PM

No, SREI issue is still open.

Reply

abhinav September 6, 2016 at 11:41 AM

will try to buy from secondary market. Dear shiv and more NCD coming near by ??

Reply

Shiv Kukreja September 6, 2016 at 12:27 PM

Hi Abhinav,
Indiabulls Housing Finance NCD issue is also expected this month. Lets see when it decides to launch it.

Reply

Debashree Chatterjee September 6, 2016 at 5:28 PM

I must say, your posts are in-depth informative, specially, like your secondary market analysis on bonds.

Reply

Shiv Kukreja September 8, 2016 at 10:54 AM

Thanks Debashree!

Reply

TCB September 6, 2016 at 7:15 PM

Dear Shiv,
1. What is your opinion about trustworthiness of this company and rating given by only one rating agency
2. How are the financials of this company
Thanks

Reply

Shiv Kukreja September 7, 2016 at 3:46 PM

Hi TCB,
1. Though it seems SREI’s management is dedicated, I don’t think they are dynamic. Had this issue been rated by more than one rating agency, then I think it would been rated ‘AA’, like its last issue.
2. Financials of the company are not great, but expected to improve going forward.

Reply

Naeem September 7, 2016 at 7:35 AM

Sir, Thanks for keeping us updated on SREI NCD. As my only earnings are from Deposits, NCDs etc I keep looking at these issues and have difficulty in understanding this term YTM.
Pls tell me, if my assumptons are right to buy a NCD.

NCD IPO price: 1000
RoI : 10% annual
Listed/current price : 1100
Next int payment date: 31.03.2017

If I have to buy this NCD from secondary market today, need to shell out 1100+brokerage ie., 1150 (approx) So I paid 150/ more than principle while I get 100 in next 6mnths, since interest payment by march2017 >> implies it fetches 200/ if weighed on yearly basis.
so, 200 – 150 = +50/ for me in this transaction. Hence I can buy this instrument (assuming it got good rating for safety etc)

Reply

ankit September 7, 2016 at 1:59 PM

Sir,

suppose i invested 10,000.00 how many i get after maturity.

Reply

Shiv Kukreja September 7, 2016 at 3:59 PM

Hi Ankit,
You will get Rs. 11,000 with Series I, Rs. 13,220 with Series IV and Rs. 16,110 with Series VII. Check the maturity values in the table above.

Reply

Ikjot September 7, 2016 at 3:42 PM

Hi Shiv,

Thanks for the info, Can we have today’s subscription figures please.

Reply

Shiv Kukreja September 7, 2016 at 4:14 PM

Hi Ikjot,
Bidding is still going on, will update it after 5 p.m.

Reply

Shiv Kukreja September 7, 2016 at 5:44 PM

Day 1 (September 7) Subscription Figures:

Category I – Rs. 70,000 as against Rs. 200 crore reserved
Category II – Rs. 7.22 crore as against Rs. 200 crore reserved – 0.04 times
Category III – Rs. 117.48 crore as against Rs. 600 crore reserved – 0.20 times
Total Subscription – Rs. 124.71 crore as against total issue size of Rs. 1,000 crore – 0.12 times

Reply

Ikjot September 7, 2016 at 9:07 PM

Thanks for the info Shiv.

Reply

Shiv Kukreja September 8, 2016 at 10:41 AM

Thanks Ikjot!

Reply

abhinav September 8, 2016 at 3:46 AM

Very poor response to NCD..why is so shiv??

Reply

Shiv Kukreja September 8, 2016 at 10:43 AM

Seems investors are still scared of the infrastructure sector. In the past as well, investors have avoided SREI’s debt paper.

Reply

Vanita Samat September 7, 2016 at 11:37 PM

Hello Sir,
Is DHFL a better NCD to invest in than SREI?

Reply

Shiv Kukreja September 8, 2016 at 10:46 AM

Hi Vanita,
Looking at the subscription figures, it seems big/smart investors are preferring DHFL over SREI. So, I think it is safe to assume DHFL’s NCDs are better investment than SREI’s NCDs.

Reply

Asim Kumar September 8, 2016 at 7:37 AM

Respected shiv Kukreja I got infrmation via SMS from KSBL about10%
issue please tell me if I invest 250ooo.00(two lakh fifty thousand haw
much amount we shell gate after five years .Is this offer garented according SEBI

Reply

Shiv Kukreja September 8, 2016 at 10:47 AM

Hi Asim,
Please check the 1st table above for SREI’s maturity values.

Reply

Asim Kumar September 8, 2016 at 7:44 AM

Respected shiv Kukreja I got information via SMS from KSBL about10%
issue please tell me if I invest 250ooo.00(two lakh fifty thousand haw
much amount we shell gate after five years .Is this offer garented according SEBI

Reply

Shiv Kukreja September 8, 2016 at 10:54 AM

Also, SEBI never provides any kind of guarantee to such offers.

Reply

Vanita Samat September 8, 2016 at 10:57 AM

Thanks Sir for the reply.I guess the smart investors are right but I don’t know why I find it difficult to put my trust in the Dewan name.I don’t think they are reliable ,principled or safe company/ institution. That’s why I let the opportunity go by.And am now mulling over whether to put some money in Srei.

Reply

Shiv Kukreja September 8, 2016 at 11:14 AM

Hi Vanita,
I understand that it is difficult to trust a brand which you have never dealt with or whose product/service you have never used. But, basing your trust just in the brand name doesn’t make sense either. If that is the case, I would never eat anything from Haldiram. However, if you have analysed the company/management properly, then you should trust your analysis and nothing else.

Reply

Anjanikumar September 8, 2016 at 11:03 AM

Hello dear shiv, from where do u find this subscription details? Kindly provide the link and can i expect any kind of listing gain from this issue.

Reply

Vanita Samat September 8, 2016 at 12:53 PM

Thanks Shiv sir.I just feel Dewan is shady..like a Mallya. Its not a Tata or Godrej .
Any pointers or tips on how to learn analysis of a stock / company so as to take a decision to invest or not.Pls share.

Reply

Shiv Kukreja September 8, 2016 at 1:51 PM

Hi Vanita,
Stock analysis requires deep understanding of financials and valuations. Tips don’t always work. Read some books on stock analysis, create a dummy portfolio to begin with and start investing small-small money in the companies your understand.

Reply

shekar September 15, 2016 at 8:56 PM

SHREI applications forms are not available with Karvy. They are down loading from Net and filling up details of bank is difficult for want of space. Wher can I get a printed form? Can anyone help me.

Reply

Shiv Kukreja September 17, 2016 at 4:01 PM

Hi Shekar,
Here you have the link to download the pre-printed forms (Broker Code – 155929):
http://edelweisspartners.com/formprinting/IPO_Entry_Form.aspx

Reply

Shiv Kukreja September 8, 2016 at 5:13 PM

Day 2 (September 8) Subscription Figures:

Category I – Rs. 70,000 as against Rs. 200 crore reserved
Category II – Rs. 7.51 crore as against Rs. 200 crore reserved – 0.04 times
Category III – Rs. 145.10 crore as against Rs. 600 crore reserved – 0.24 times
Total Subscription – Rs. 152.62 crore as against total issue size of Rs. 1,000 crore – 0.15 times

Reply

Hemant September 8, 2016 at 6:40 PM

Srei Infrastructure Finance ltd (SREI) – Non- Convertible Debentures (NCD)
More info @ https://www.moneydial.com/srei-infrastructure-finance-ltd-srei-non-convertible-debentures-ncd/

Reply

Hemant September 8, 2016 at 6:40 PM

HPL Electric & Power Ltd IPO

More info @ https://www.moneydial.com/hpl-electric-power-ltd-ipo/

Reply

Hemant September 8, 2016 at 6:43 PM

HPL Electric & Power Ltd IPO
More info@ https://www.moneydial.com/hpl-electric-power-ltd-ipo/

Reply

Shiv Kukreja September 9, 2016 at 11:17 PM

Day 3 (September 9) Subscription Figures:

Category I – Rs. 1.1 lakh as against Rs. 200 crore reserved
Category II – Rs. 8.13 crore as against Rs. 200 crore reserved – 0.04 times
Category III – Rs. 163.05 crore as against Rs. 600 crore reserved – 0.27 times
Total Subscription – Rs. 171.18 crore as against total issue size of Rs. 1,000 crore – 0.17 times

Reply

SHIV CHARAN SHARMA September 11, 2016 at 3:19 AM

respected Dr Kukreja
Please see your reply to Vanita on 7-9-16 where you say, looking at the subscription figures big/smart investors are preferring DHFL over Srei.
Did you ever ponder before expressing out this verdict, is not something
like ‘BHED CHAH’ in hindi proverb.And Bheds are bhed that every one knows.
Secondly you have mentioned the subscription figures dubious intentionally so a to a discourage the customers from buying the srei ncd. srei ncd basically was subscribed
for receiving Rs 250/ cr from public and if get excess than the cap was Rs1000/ cr.Upto 9/9/16 they have recd Rs343.45cr as against Re250/cr as per your report dated 9/9/16.SERI needed Re250/cr as per criterion.
Then how did you dare make a comparison of the subscription with the cap amount Re 1000/cr.they needed Re250/cr and have recd Re343.45cr
My earnest request to you is to study the matter deeply and then try to help the innocent persons sincerely w/o any grudge against any co.srei has got a very high response from public and may get Re1000/cr before time.
warm regards
shiv charan sharma

Reply

Shiv Kukreja September 14, 2016 at 7:38 PM

Hi Mr. Sharma,
I have no grudge against SREI Infra and I am in no way linked to DHFL or Indiabulls Housing Finance or any other company analysed. I have expressed my unbiased views in the post above, based on my knowledge and whatever experience I have. You have full right to disagree with my views and you are most welcome to express your views here. But, you need to be careful while choosing your words. Thanks!

Reply

nitesh patel September 11, 2016 at 12:14 PM

indabulls finance ncd is opening on 15th September details please shiv as soon as possible

Reply

Anjanikumar September 12, 2016 at 5:34 PM

*INDIABULLS HOUSING FINANCE LIMITED*

Mode of the issue: Public Issue

Issue Opening Date: 15th Sept 2016
Issue Closing Date: 23rd Sept 2016

Type Of Instrument: Secured & Un Secured Redeemable NCD

Issue Size: 3500 Cr + 3500 Cr

Rating: CARE AAA, BWR AAA

*Interest Rate & Frequency for Secured NCD*

3 Years: 8.70% Annual
8.70% Cumulative

5 Years: 8.90% Annual
8.90% Cumulative

10 Years: 8.65% Monthly
9.00% Annual
9.00% Cumulative

*Interest Rate & Frequency For Un Secured NCD*

10 Years: 8.79% Monthly
9.15% Annual
9.15% Cumulative

Interest On Application Money: As Per Effective Yield

Interest On Refund: 6%

Face Value: 1000

Min Application: 10000

Proposed Listing on BSE

Physical and Demat mode

Reply

Shiv Kukreja September 12, 2016 at 5:52 PM
SHIV CHARAN SHARMA September 13, 2016 at 2:03 AM

Corrigendum—-
It is with ref to my letter dated 11-9-2016. Kindly read Re171.18cr for Re343.45cr where ever it is found written in the letter.
As per that report dated 9-9-2016 of shri Kukreja srei has recd Re 117.18cr
ie 68% of the issue(Re250.00cr) only in three days.I am sure it will oversubscribe before its expiry date.

shiv charan sharma

Reply

SHIV CHARAN SHARMA September 13, 2016 at 2:14 AM

Corrigendum–
regret . pl read Re171.18cr for Re117.18cr as written by mistake at para 3rd
letter dated13-9-16.

Reply

Rahul September 14, 2016 at 11:36 AM

Shiv, please share subscription status of Srei till now

Reply

Shiv Kukreja September 14, 2016 at 11:55 AM

Day 4 (September 12) Subscription Figures:

Category I – Rs. 1.1 lakh as against Rs. 200 crore reserved
Category II – Rs. 8.38 crore as against Rs. 200 crore reserved – 0.04 times
Category III – Rs. 177.60 crore as against Rs. 600 crore reserved – 0.27 times
Total Subscription – Rs. 185.99 crore as against total issue size of Rs. 1,000 crore – 0.19 times

Reply

Shiv Kukreja September 14, 2016 at 8:33 PM

Day 5 (September 14) Subscription Figures:

Category I – Rs. 31.1 lakh as against Rs. 200 crore reserved – 0.001 times
Category II – Rs. 8.40 crore as against Rs. 200 crore reserved – 0.04 times
Category III – Rs. 187.07 crore as against Rs. 600 crore reserved – 0.31 times
Total Subscription – Rs. 195.78 crore as against total issue size of Rs. 1,000 crore – 0.20 times

Reply

Vanita Samat September 16, 2016 at 4:31 PM

Hello Sir,
I would like to know if it is possible to appoint a nominee when applying for Ncds and bonds.
I have been applying to NCDs online through my trading account via Asba.
I can see no option for nominee..it just says first applicant ,second applicant and third applicant.
Is it advisable to have nominee in ncds and bonds or does the nominee of my trading account automatically become the nominee in these too?

Reply

Shiv Kukreja September 17, 2016 at 3:45 PM

Hi Vanita,
Your nominee in the demat account is the nominee for all your investments held in the demat account. So, these NCDs/bonds too will have the same nominee.

Reply

Vanita Samat September 17, 2016 at 1:42 PM

I have written a comment on this thread yesterday but it is still awaiting moderation.
Sir,could you please check and reply.

Reply

Shiv Kukreja September 17, 2016 at 3:41 PM

Day 7 (September 16) Subscription Figures:

Category I – Rs. 31.1 lakh as against Rs. 200 crore reserved – 0.001 times
Category II – Rs. 8.75 crore as against Rs. 200 crore reserved – 0.04 times
Category III – Rs. 199.96 crore as against Rs. 600 crore reserved – 0.33 times
Total Subscription – Rs. 209.02 crore as against total issue size of Rs. 1,000 crore – 0.21 times

Reply

bhushan oke September 18, 2016 at 10:46 AM

Hi Shiv,

I’ve subscribed for Srei NCD in a big way because of better interest rate offered. However it seems the issue is not getting subscribed at all in category 1 & 2. This means there will practically be no liquidity for these NCDs in the market once it gets listed and I’m likely to be stuck with these till maturity. Do I read the situation correctly. If yes, it is a disaster for me as I invested money for a three to four year horizon and intended to get back my capital thereafter.

Also there are some conflicting subscription figures for day 1 itself at https://applyipo.com/blog/2016/09/07/srei-infrastructure-ncds-subscribed-0-50-times-day-1/

Could you please throw some light on this?
Thanks & Regards,

Reply

Shiv Kukreja September 20, 2016 at 1:04 PM

Hi Bhushan,
Yes, liquidity has been an issue with SREI Infra NCDs. You can check the 2nd table above in the post. There is a substantial difference between Series V & Series VI prices. Market price of Series V NCDs should be lower than Series VI NCDs. But, there is an anomaly due to lack of adequate liquidity. This kind of anomaly occurs very often with NCD issues in which liquidity is not sufficient. So, in order to liquidate your holdings, you might be required to compromise on the price front.

Reply

shekar September 18, 2016 at 2:22 PM

Printed forms are not available.

Reply

Shiv Kukreja September 20, 2016 at 12:39 PM

Day 8 (September 19) Subscription Figures:

Category I – Rs. 31.1 lakh as against Rs. 200 crore reserved – 0.001 times
Category II – Rs. 8.95 crore as against Rs. 200 crore reserved – 0.04 times
Category III – Rs. 209.40 crore as against Rs. 600 crore reserved – 0.35 times
Total Subscription – Rs. 218.66 crore as against total issue size of Rs. 1,000 crore – 0.22 times

Reply

Vanita Samat September 20, 2016 at 2:24 PM

Such low demand for this. NCD.So many days and so low subscriptions. How bad can this company be? Its scary!

Reply

Shiv Kukreja September 20, 2016 at 3:03 PM

I agree with Bhushan, the company is not that bad. It is the sentiment towards infrastructure financing companies which is making people avoid SREI Infra NCDs. But, at the same time, some of the problems with these kind of companies are genuine as well.

Reply

Bhushan Oke September 20, 2016 at 2:36 PM

The company is not bad. I had subscribed in 2015 also and they had offered 0.25% additional interest to shareholders. So I had purchased some shares @ Rs 36 and that has now more than doubled. The reason for low subscription may be very reduced liquidity in the market due to three concurrent issues of better rating. Shiv, is there a chance of cancellation of issue if subscription remains poor?

Reply

Shiv Kukreja September 20, 2016 at 3:34 PM

Hi Bhushan,
I don’t think there is any chance of cancellation of this issue. Base size of the issue is Rs. 250 crore and I think by the time the issue gets closed, it would be closer to this mark. I don’t think three concurrent issues of DHFL and Indiabulls had any impact as far as liquidity for such a small issue like SREI Infra issue is concerned.

Reply

bhushan oke September 20, 2016 at 3:12 PM

Agreed Shiv that the infrastructure sector is plagued by project delays and cost overruns. This discussion opens up to another genuine concern area. We go by rating provided by agencies to the issues. How genuine are the ratings and if the NCDs are secured against company assets, who has valued those assets? Is it the company itself or rating agency or an independent agency? Is the sector well regulated and monitored by SEBI/RBI etc. Is there a possibility of ending up like Sahara?
These are some of the concerns leading to the question how safe really these instruments are.
Regards,

Reply

Shiv Kukreja September 20, 2016 at 3:46 PM

I don’t bank on ratings of an issue for my investments. However, ratings give you an indication about the quality of the company’s financials and the sector’s future prospects. Concerns regarding these NCD issues by private companies are genuine. That is why I prefer such issues by government companies.

Reply

Vanita Samat September 20, 2016 at 3:34 PM

Thanks Shiv .Was wondering because india bulls and dhfl get lapped up in no time and close even..whereas this is plodding on still.
I have put in a very small amount and just would like to know if I will get my principal back at end of term.

Reply

Shiv Kukreja September 20, 2016 at 3:53 PM

Hi Vanita,
That is something nobody would be able to tell you with certainty. But, yes, SREI Infra issue carries a slightly higher risk as compared to DHFL & IHFL issues. The shorter the tenure is, the better it is. Also, one should opt for monthly or annual payouts as compared to cumulative option.

Reply

Shiv Kukreja September 20, 2016 at 10:28 PM

Day 9 (September 20) Subscription Figures:

Category I – Rs. 31.1 lakh as against Rs. 200 crore reserved – 0.001 times
Category II – Rs. 15.45 crore as against Rs. 200 crore reserved – 0.08 times
Category III – Rs. 213.87 crore as against Rs. 600 crore reserved – 0.35 times
Total Subscription – Rs. 229.64 crore as against total issue size of Rs. 1,000 crore – 0.23 times

Reply

Shiv Kukreja September 22, 2016 at 4:11 PM

Day 10 (September 21) Subscription Figures:

Category I – Rs. 31.1 lakh as against Rs. 200 crore reserved – 0.001 times
Category II – Rs. 15.45 crore as against Rs. 200 crore reserved – 0.08 times
Category III – Rs. 216.59 crore as against Rs. 600 crore reserved – 0.35 times
Total Subscription – Rs. 232.37 crore as against total issue size of Rs. 1,000 crore – 0.23 times

Reply

Shiv Kukreja September 24, 2016 at 12:02 AM

Day 12 (September 23) Subscription Figures:

Category I – Rs. 31.1 lakh as against Rs. 200 crore reserved – 0.001 times
Category II – Rs. 15.45 crore as against Rs. 200 crore reserved – 0.08 times
Category III – Rs. 224 crore as against Rs. 600 crore reserved – 0.37 times
Total Subscription – Rs. 239.77 crore as against total issue size of Rs. 1,000 crore – 0.24 times

Reply

bhushan oke September 26, 2016 at 8:58 AM

Hi Shiv,
I applied for rights shares of Sintex and also applied for additional shares through the same application. The issue was to close on 14th September. Any idea about allotment and refund status?

Regards,

Reply

Shiv Kukreja September 26, 2016 at 11:20 PM

Hi Bhushan,
Sintex Rights Issue shares would get allotted by September 28th.

Reply

Shiv Kukreja September 26, 2016 at 11:26 PM

Day 13 (September 26) Subscription Figures:

Category I – Rs. 31.1 lakh as against Rs. 200 crore reserved – 0.001 times
Category II – Rs. 20.45 crore as against Rs. 200 crore reserved – 0.10 times
Category III – Rs. 229.69 crore as against Rs. 600 crore reserved – 0.38 times
Total Subscription – Rs. 250.45 crore as against total issue size of Rs. 1,000 crore – 0.25 times

Base size of the issue Rs. 250 crore gets oversubscribed today.

Reply

KAUSHIKI PADA CHAKRABARTI October 3, 2016 at 11:32 AM

dear sir,

i had invested in srei infra ncd bond 2016. the amt. was debited from my bank a/c. but the allotment status had not yet given in the website of karvy computershare pvt. ltd. now what should i do? looking for your early response.

Reply

vishal October 5, 2016 at 1:09 PM

1)
Listing price sir please ? as liquidity is not much it may list in discount but my question is how much discount you expect sir ?

2)
Indiabulls ncd liquidity is not sufficient what are you thinking on srei ncd?

Reply

vishal October 5, 2016 at 1:10 PM

also tell me effect of RBI Rate Cut on listing Price Of srei ncd

Reply

abhinav October 14, 2016 at 12:45 PM

when will this issue list???

Reply

Kris October 15, 2016 at 9:24 AM

It is already listed.

Reply

Leave a Comment

Previous post:

Next post: