BNP Paribas and Srei Infrastructure have invested close to Rs 200 crore of equity in their joint venture company, Srei Equipment Finance (Private). This will take the net worth of the company to over Rs 1,660 crore. With higher capitalisation, Srei Equipment Finance will expand its business multi-fold, said the company.
Commenting on the additional equity investment by the two shareholders of the Company, DK Vyas, CEO, Srei Equipment Finance, said, “Enhanced equity will strengthen the capital base of Srei Equipment Finance and with additional leveraging, will lead to further growth. Being a market leader with over 30% market share in infrastructure and construction equipment financing, Srei Equipment Finance mirrors industry growth.”
This fiscal, Srei Equipment Fiance is expected to grow by 10 – 15% over last year’s disbursement of Rs 12,710 crore. As of June 30, the assets under management of Srei Equipment Finance was over Rs 18,492 crore, said the company.
(Edited by Prem Udayabhanu)