BNP Paribas, Srei Infrastructure invest Rs200 crore in joint venture
12 Oct 2012
BNP Paribas and Srei Infrastructure have invested around Rs200 crore in their joint venture company Srei Equipment Finance to raise the net worth of the company to over Rs1,660 crore.
The company said in a statement today that the money would be used by Srei Equipment Finance to expand its business.
D K Vyas, chief executive officer of the joint venture company told PTI, both the shareholders were equally committed to the growth of the infrastructure equipment finance business.
He added, enhanced equity would strengthen the capital base of Srei Equipment Finance and with additional leveraging, leading to further growth.
He added, with the revival in economic sentiment, the additional equity investment augurs well for the company. He said, being a market leader with over 30 per cent market share in infrastructure and construction equipment financing, Srei Equipment Finance mirrored industry growth.
Srei Equipment Finance is looking to increase its disbursements by 10-15 per cent year - on-year in 2012-13. The company had disbursed Rs12, 710 crore loans in the last financial year with the assets under management at Rs18,492 crore at the end of June 2012.
