Srei sharpens ₹1,000-cr equipment finance plans

Ensuring smooth flow of funds to its equipment finance wings, the Kolkata-based Srei Group is negotiating with a clutch of big ticket private equity funds including the Blackstone Group and KKR to generate ₹1,000 crore, Chairman Hemant Kanoria was quoted as saying in a recent statement, adding that the group is looking to raise about ₹2,000 crore. The move will result in listing of the company's equipment finance business through a composite scheme of arrangement and amalgamation and give shareholders of Srei an opportunity to directly participate in the high growth equipment finance sector. Prior to this, Srei Infrastructure Finance announced that it had decided to augment the capital of both its infrastructure finance and equipment finance businesses, which would facilitate the businesses in maintaining and strengthening their current leadership positions further.