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Srei Equipment Finance receives expression of interest for up to $250 mn capital infusion

SEFL's Strategic Coordination Committee, chaired by Independent Director Malay Mukherjee, will be coordinating, negotiating, and concluding discussions with the PE investors to bring capital into the business and advise the management. Ernst & Young will be advising the committee on the proposed fundraising exercise.

April 08, 2021 / 09:11 PM IST
Representational image

Representational image

Srei Equipment Finance Limited (SEFL) announced on April 8 that it has received expression of interest for up to $250 million capital infusion in the company from international private equity funds -- United States-based Arena Investors LP and Singapore’s Makara Capital Partners.

The company’s Strategic Coordination Committee (SCC), chaired by Independent Director Malay Mukherjee, will be coordinating, negotiating, and concluding discussions with the PE investors to bring capital into the business and advise the management. Ernst & Young will be advising the committee on the proposed fundraising exercise.

The SCC is running an independent process for investor identification and has received expression of interest from Arena Investors LP and Makara Capital Partners. This process is being carried out in parallel to the debt realignment plan. The SCC will engage in discussions with the potential investors to raise fresh capital for the business, which will provide cushion against the pandemic induced stress in the Indian financial services space.

The SCC will also be the nodal point for a comprehensive cash flow realignment plan with banks and financial institutions and for all external service providers, including investment bankers, lawyers, and consultants.
Moneycontrol News
first published: Apr 8, 2021 09:11 pm

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