The IPO is projected to launch in the last quarter of this fiscal year and company aims to raise Rs 1800- 1200 crore.
Hemant Kanoria, chairman of the company said, Srei Equipment Finance (SEF) operates Srei Infrastructure Finance and plans to use the funds for further expansion and growth purposes. The expectation of company to grow is 20-30% annually over the next few years.
SEF had assets under management of Rs 23,453 crore in the first quarter of this fiscal year. DK Vyas, CEO of SEF, aims to double this amount in the upcoming next three year.
Profit after tax for the quarter was Rs 72 crore, against Rs 44 crore in the same period a year before. About 90% of the company's equipment finance business is in construction mining equipment. The company has a market share of 30-35% in equipment finance.
"We've been in equipment finance for 28 years and it has been our core business. It is doing very well, and nonperforming assets are also coming down. We would further like to increase growth in segments like construction, mining, and health care," said Kanoria.