Sunday, Sep 24, 2023
English News
  • Hyderabad
  • Telangana
  • AP News
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • Rewind
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Education Today
    • Reviews
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Business | Srei Equipment Finance Gets Rs 2200 Cr Investment Interest From Singapore

Srei Equipment Finance gets Rs 2,200 cr investment interest from Singapore

The company, a fully-owned subsidiary of Kolkata-based Srei Infrastructure Finance, is looking to raise money, mainly after the coronavirus-induced economic downturn impacted its financials.

By PTI
Published Date - 09:28 PM, Fri - 18 June 21
Srei Equipment Finance gets Rs 2,200 cr investment interest from Singapore
The company, a fully-owned subsidiary of Kolkata-based Srei Infrastructure Finance, is looking to raise money, mainly after the coronavirus-induced economic downturn impacted its financials.
whatsapp facebook twitter telegram

New Delhi: Srei Equipment Finance on Friday said Singapore-based Makara Capital Partners Pte Ltd has shown interest to invest up to Rs 2,200 crore by picking up equity and other securities in the company. The company, a fully-owned subsidiary of Kolkata-based Srei Infrastructure Finance, is looking to raise money, mainly after the coronavirus-induced economic downturn impacted its financials.

“This is to inform that the Strategic Coordination Committee has received a term sheet from Makara Capital Partners Pte Ltd (Makara), Singapore indicating interest for the investment of an aggregate amount of Rs 2,200 crore by way of subscription to equity shares and other securities of the company,” Srei Equipment Finance said in a regulatory filing through Srei Infrastructure Finance. The committee, chaired by an independent director, will evaluate the said offer and make the recommendation to the board, it added.

However, the company did not disclose that how much equity Makara wants to pick up in the firm. In April this year, Srei Equipment Finance had informed about getting the expression of interest (EOI) of up to $250 million (Rs 1,856.41 crore as per June 18, 2021, conversion rate) capital infusion from US-based Arena Investors LP and Singapore’s Makara Capital Partners.

Notably, the monetary interest evinced by Makara in Srei Equipment Finance exceeds the interest shown by both Makara and Arena in April. The company’s Strategic Coordination Committee (SCC) is chaired by independent director Malay Mukherjee.

Mukherjee has been tasked to coordinate, negotiate and conclude discussions with the PE investors to bring the capital into the business and advise the management. Besides, Ernst & Young (EY) has been roped in to advise the committee on the proposed fundraising exercise, which is being carried out in parallel to the company’s debt realignment plan. Srei Equipment Finance (SEFL), an unlisted entity, provides financing for construction and mining equipment.


Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.

Click to follow Telangana Today Facebook page and Twitter .


Telangana Today Whatsapp
  • Follow Us :
  • Tags
  • Makara Capital
  • Makara Capital Partners Pte Ltd
  • Singapore
  • Srei Equipment Finance

Related News

  • Indian-origin man jailed for wearing Singapore flag as cape, proclaiming himself as god

    Indian-origin man jailed for wearing Singapore flag as cape, proclaiming himself as god

  • Singapore’s Changi Airport to passport-free from 2024

    Singapore’s Changi Airport to passport-free from 2024

  • Singapore Parliament rejects suspension of Indian-origin MP

    Singapore Parliament rejects suspension of Indian-origin MP

  • Singapore: Indian construction worker dies in accident

    Singapore: Indian construction worker dies in accident

  • Covid-infected Indian-origin man in Singapore jailed for coughing at others

    Covid-infected Indian-origin man in Singapore jailed for coughing at others

  • Singapore: Suspended Indian-origin lawyer charged for assault in temple

    Singapore: Suspended Indian-origin lawyer charged for assault in temple

Latest News

  • India rout Uzbekistan 16-0 in Asian Games men’s hockey goalfest

    9 mins ago
  • Eight of top 10 firms lose Rs 2.28 lakh cr in mcap; HDFC Bank, Reliance biggest laggards

    17 mins ago
  • Himanta rolls out financial aid scheme to help Assam youths set up business

    29 mins ago
  • MP Priyanka Chaturvedi writes to RS Chairman over “political sloganeering by visitors”

    39 mins ago
  • Lightning hits Jharkhand playground during football match; 2 spectators die

    49 mins ago
  • Elon Musk’s biography scores bumper sale, billionaire says “cool”

    49 mins ago
  • Passing of women’s reservation bill step in the right direction: Priyanka Chopra Jonas

    1 hour ago
  • Premier League: Manchester City claims six wins in a row; Everton break duck

    1 hour ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam