BNP Paribas, Srei invest Rs200 crore in their JV
BNP Paribas and Srei Infrastructure have invested close to Rs200 crore of equity in their joint venture company–Srei Equipment Finance (Private) Limited. This will take the net worth of the company to over Rs1,660 crore. With higher capitalization, Srei Equipment Finance will expand its business multi-fold.
DK Vyas, CEO, Srei Equipment Finance, said, “Both the shareholders are equally committed to the growth of the infrastructure equipment finance business. Enhanced equity will strengthen the capital base of Srei Equipment Finance and with additional leveraging, will lead to further growth.”
With the revival in economic sentiment, he said, the additional equity investment augurs well for the company.
This fiscal, Srei Equipment Finance is expected to grow by 10– 15 per cent over last year’s disbursement of Rs12,710 crore, the company said,. As of June 30, 2012, the asset under management of Srei Equipment Finance was over Rs18,492 crore.