India’s largest equipment finance firm Srei Equipment Finance Ltd said Singapore’s Makara Capital Partners Pte Ltd was looking to invest Rs 2,200 crore ($297.2 million) in the company.
Srei Equipment Finance said Makara will invest by subscribing to equity shares and other securities of the company. However, it did not disclose how much stake Makara would buy.
Its strategic coordination committee, which is chaired by an independent director, would evaluate the offer and make a recommendation to the board, it said.
In April, VCCircle reported that the company received expressions of interest for up to $250 million infusion from US-based Arena Investors LP and Makara.
Makara is a global financial services company coming under the purview of the Monetary Authority of Singapore. Founded in 2005, it specialises in fund management, private equity, and structuring and financing, with a focus on innovation, infrastructure and energy.
Srei Equipment Finance, an unlisted entity, provides financing for construction and mining equipment.
Shares of its parent company Srei Infrastructure Finance Ltd closed 9.85 per cent higher at Rs 14.50 apiece on BSE.