Page 2 - Srei Equipment Finance

The Kolkata-based family behind Srei Infrastructure

The RBI recently superseded the boards of Srei Infra and Srei Equipment Finance. While the situation is still developing, we delve into the background of the family behind the business

RBI-appointed Srei administrator assures job security to employees

Group to restart business soon; to focus on recovery

We hadn't expected such retaliation by bankers: Hemant Kanoria of Srei

In a Q&A, the promoter and former chairman of Srei Infra says the firm had moved the NCLT to facilitate payment, account was not stressed

Srei Equipment Finance gets Rs 2k cr investment proposal from US consortium

Srei Equipment Finance provides financing mainly for construction and mining equipment.

Srei Equipment Finance's company secretary resigns; banks lift salary cap

The Srei group continues to face human resource crisis with Srei Equipment Finance (SEFL) company secretary putting in her papers on Monday, even as the banks have lifted the cap on the salary of senior-level executives. Srei Infrastructure Finance Ltd (SIFL), the parent company of Srei Equipment, saw its company secretary Sandeep Kumar Lakhotia resigning earlier in March this year. "We wish to inform that Ritu Bhojak, company secretary of Srei Equipment Finance Ltd has resigned from the position of Company Secretary & Compliance Officer of the company and will be relieved w.e.f. close of working hours of 10th May, 2021," SEFL said in a statement. SEFL, an unlisted company on bourses, said the company will be shortly appointing a new company secretary and compliance officer. As per sources, over 200 employees have left the Kolkata-based Srei group since December last year in the wake of the pandemic induced economic pressure which created an asset-liability mismatch. This made the

Srei Infra Finance jumps 20% on receiving EoI from Cerberus for subsidiary

Cerberus Global Investments joined two other prospective investors for infusing capital into Srei Equipment Finance

Srei Eqpt Finance gets $250 mn equity infusion offer from global PE funds

Company panel to negotiate and conclude talks with the PE investors; Ernst & Young will be advising on the proposed fund raising exercise

Global institutional investors show interest in Srei Equipment Finance

The capital infusion in the form of equity will be in tranches

KfW IPEX-Bank offers loan of 10 mn euros to Srei Equipment Finance

The borrower, SEFL, was set up in 2008 to pool orders from individual Indian construction companies and make the newly ordered machines available to the respective users.

Srei's growth slowing down over weak market sentiment: Group chairman

The share of infrastructure project finance is expected to further come down to 10-15 per cent in the coming years, he said

As cos offer different interest rates, diversify across NCDs to lower risk

There will be 4-5 more NCD issues in May and June. Spread your investments among companies with high credit rating

Srei Equipment Finance files IPO papers with Sebi, to sell 4.4 mn shares

This year so far, 33 companies have raised over Rs 60,000 crore through IPOs

Board of SREI Equipment Finance approves IPO of up to Rs 2,000 cr

Shares of Srei Infrastructure Finance were trading 1.12% lower at Rs 119.70 on BSE

Srei Equipment Finance to raise Rs 2,000 crore via IPO, dilute 25%

Srei Equipment Finance (SEF), wholly-owned subsidiary of Srei Infrastructure Finance, plans an initial public offer (IPO) of equity, to result in dilution of up to 25 per cent of the post-issue paid-up equity capital share.The company expects to raise Rs 1,800-2,200 crore through the IPO, expected to hit the market in the last quarter of this financial year. The proceeds would be used to fund growth. The company is looking at 20-30 per cent annual growth over the next few years, said Hemant Kanoria, chairman and managing director. In the June quarter, first of the present financial year, SEF had assets under management of Rs 23,453 crore. According to D K Vyas, chief executive, the aim is to double this in three years. Profit after tax in the quarter was Rs 72 crore, against Rs 44 crore in the same period a year before. About 90 per cent of the company's equipment finance business is in construction mining equipment. The company has a market share of 30-35 per cent in equipment ...