Kolkata-based SREI Infrastructure Finance Ltd has informed that board of directors of the company at its meeting held on April 29, 2009, has decided to raise upto a maximum of Rs 1,000 Crore through public issue of non convertible debentures (NCDs), in one or more tranches.

The funds will be used by the company to meet its long term working capital needs and other general corporate purposes.

Further, the board has also authorized committee of directors of the company to decide on the terms including size, coupon rate, timing etc. of the proposed NCDs.

SREI Infrastructure Finance Limited, is a non-banking financial institution, which provides infrastructure finance in India and internationally. The company operates a network of 61 offices in India and 3 offices in Russia.

The shares of the company settled the day on Wednesday at Rs 38.95 on BSE.