Srei Equipment Finance

Tribunal exercises discretion as directed by Supreme Court before admitting Section 7 application

NARCL likely to revive Srei group's infra financing arm SIFL, wind up SEFL after debt recovery

NARCL (National Asset Reconstruction Company) won the bid to take over the two Srei group firms -- SIFL and Srei Equipment Finance Ltd (SEFL) -- through an insolvency process.

Srei insolvency: NARCL wins bid for stressed twin NBFCs

The Committee of Creditors on Wednesday approved the plan submitted by NARCL, which offered a Net Present Value (NPV) bid of Rs 5,555 crore, after it received the highest vote of 89.2 per cent from verified creditors.

Srei insolvency: Kanorias' offer to pay off dues rejected under technical ground

Srei Equipment Finance Ltd and Srei Infrastructure Finance Ltd are currently undergoing insolvency proceedings in NCLT. The RBI has already superseded the respective boards earlier.

Varde-Arena consortium revises bid; emerges as highest bidder for Srei

On an aggregate basis as well, the Varde-Arena consortium has bid the highest amount totalling over Rs 14,000 crore, including bonds, OCDs and equity and upfront cash, the sources said.

ArcelorMittal joins race to acquire Srei group companies under IBC

Srei lenders have invited a fresh round of bids for companies after a dispute with earlier bidders over earnest money deposit

RBI appoints Venkat Nageswar Chalasani in Advisory Committee of Srei Group recast

The RBI had on October 4 superseded the Board of Directors of Srei Infra and Srei Equipment Finance owing to governance concerns and defaults.

Deadline to submit bids for Srei Infra, Srei Equipment Finance extended to June 30

This is the second time that the deadline has been extended. The first deadline was May 17 but was extended to June 7 and now it is June 30.

Exclusive | In hindsight, there were some errors in judgment from our side too, says Hemant Kanoria of Srei

The way some very unresearched reports have surfaced sullying the Srei brand name and dragging the family name into it, we cannot rule it (conspiracy campaign to malign Srei’s image) out completely, says Kanoria, the erstwhile promoter of Srei Infra and Srei Equipment Finance.

Deadline for Srei Infra creditors to submit claims ends tomorrow

Srei companies, Srei Infrastructure Finance and Srei Equipment Finance, together owe around Rs 30000 crore to creditors. Uco Bank has the maximum exposure among lenders to Srei, around Rs 2000 crore.

RBI supersedes board of Srei Infra and Srei Equipment Finance, appoints administrator

The central bank of India has appointed Rajneesh Sharma, the former Chief General Manager at Bank of Baroda, as administrator.

Srei Equipment Finance receives expression of interest for capital infusion from Cerberus Global Investments

SEFL has also received EoIs for capital infusion of about $ 250 million from US-based multi-strategy investment firm Arena Investors LP and Singapore-based global financial services company Makara Capital Partners, the company said.

Srei says interest received from international investors for capital infusion

The Kolkata-based NBFC, which has assets worth around Rs 43,000 crore, faced significant stress due to COVID-19.

Axis Bank says report alleging Rs 44,000 crore exposure to SREI Group 'grossly inaccurate'

Axis Bank said that its outstanding exposure to Srei group is Rs 800 crore as opposed to Rs 44,000 crore alleged by web portal Scams Breaking.

Srei Equipment Finance to co-lend with Syndicate Bank

Under the arrangement, Syndicate Bank would leverage on its low-cost funds and co-lend equipment loans with Srei at a mutually agreed rate, a company statement said on Thursday.

Srei Equipment to raise up to Rs 300 cr in NCDs

The base size is Rs 150 crore with an option to retain over-subscription for an amount up to Rs 150 crore.

Srei Equipment Finance, Hinduja Leyland Finance among 4 companies to get Sebi's go ahead for IPO

Penver Products received Sebi's observations on September 5, while the remaining three firms got it on September 7, according to the latest update with the markets watchdog.

Srei Infra dips 2% on report equipment finance IPO may be postponed or called off

The IPO comprises a fresh issue of Rs 1,100 crore and an offer for sale of upto 43,86,765 equity shares by promoter.

Srei Equipment Finance files IPO papers with Sebi

The IPO comprises fresh issue of equity shares worth Rs 1,100 crore, besides, Srei Infrastructure Finance will sell up to 43,86,765 shares in an offer for sale, the listed entity said in a regulatory filing to the exchanges.

Srei arm signs MoU with Tata Motors

The preferred financier agreement would allow both Srei and Tata Motors to explore enhanced growth prospects in the heavy-duty tipper truck segment in the country, a company spokesman said.

Srei Equipment Finance to dilute 25 percent stake

The company had formed an IPO committee to take all decisions relating to appointment of investment bankers, advisors among others.

Srei Equipment Finance to dilute 25% stake

"The board of the company decided to dilute 25 per cent stake by issuing fresh shares and OFS by Srei Infrastructure Finance", CMD of Srei Equipment Finance Hemant Kanoria said.

SEFL to issue NCDs upto Rs 1,000 crore

Srei in a statement said the NCDs will be of face value Rs 1,000 each amounting up to Rs 500 crore (Base Issue Size) with an option to retain over-subscription up to additional Rs 500 crore.

Demonetisation impact low; growth to return this quarter: SREI

SREI Infrastructure‘s subsidiary SREI Equipment Finance will raise Rs 500 crore thorough non-convertible debentures. Funds raised will not have dramatic difference on the company‘s cost of funds, said Hemant Kanoria, CMD of SREI Infra.

Companies garner Rs 34,000 cr via NCDs in FY'16

Most of the funds were mobilised for expansion to support working capital requirements and other general corporate purposes.