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Srei Infra to raise Rs30 bn from banks

Non-banking finance company Srei Infrastructure Finance Ltd has plans to raise Rs3,000 crore from domestic banks by the end of this year.

The difficulties in raising money in the present scenario have compelled the company to scale down disbursal targets for 2008-09.

The company is also finding it difficult to achieve its disbursal target of Rs12,000 crore projected earlier. It has already disbursed Rs4,950 crore in H1 2008.

Last fiscal, the company disbursed Rs5,000 crore and has plans to disburse Rs20-30 billion more this financial year.

Srei is finding it difficult to raise money as the ECB route is closed for NBFCs. During the first half of 2008-09, the company’s loan portfolio grew by 60 percent, but October and November were dull months.

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