your password has been reset successfully, Please login again.

Srei Equipment Finance to lift up Rs 2,000 crore via IPO

Srei Infrastructure Finance is in discussion to raise funds via dilution of 25% of the paid up equity share capital through the commencement of initial public offer (IPO).
BY BEx Bureau
BusinessEx
Aug 22, 2017

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.

Please add your Comment
SIMILAR News
July 17, 2018
As part of the partnership, Walmart and Microsoft engineers will collaborate to migrate a significan ...More
By Shah Mohsin
July 17, 2018
The Mumbai-based startup was launched in 2013 as a social network for conversations and later tweake ...More
By Shah Mohsin
July 17, 2018
PE firm India Equity Partners holds a stake of around 98% stake in Spoton Logistics while the compan ...More
By Shah Mohsin
July 17, 2018
The latest funding has been routed through Singapore-based Amazon Corporate Holdings and Mauritius-b ...More
By Shah Mohsin
July 16, 2018
Phonepe which is one of the biggest players in the UPI payment space, has been steadily building up ...More
By Shah Mohsin
July 16, 2018
Dalmia Bharat had been adamant on its acquisition plan for Binani Cement, which would have opened an ...More
By Shah Mohsin
July 16, 2018
LIC owned about 8 percent of IDBI Bank as of end-June, while the federal government owned 86 percent ...More
By Shah Mohsin
July 16, 2018
The Mumbai-based venture capital firm has more than 40% of its portfolio companies in the B2B segmen ...More
By Shah Mohsin
July 16, 2018
The investors who participated in the round include Anupam Mittal, CEO at People Group, the parent o ...More
By Shah Mohsin
July 13, 2018
The American software giant is already offering its Azure platform to electric mobility players acro ...More
By Shah Mohsin
July 13, 2018
The Series A funding will also be used to expand the team and bring on board experienced talent in t ...More
By Shah Mohsin
July 13, 2018
With this, the company has raised a total $12 million until now. ...More
By Shah Mohsin