The Kolkata-headquartered company said its disbursements during the quarter under review was at Rs 3,888 crore as compared to Rs 5,941 crore in the corresponding period of last fiscal.
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.
The company registered a profit of Rs 86 crore in the corresponding quarter of FY18.
SREI Infra told CNBC-TV18 that the company does not need CEO for its infra division as it is not looking to increase book.
Tight liquidity conditions combined with specific credit issues (IL&FS) led to a big reset for NBFCs as well as housing finance companies (HFCs).
The recent market developments in reference to NBFCs should not be considered while evaluating its stable financial health and prudent growth strategies, it said in a statement.
The entire non-banking finance company segment has been under the cosh after IL&FS defaulted on several interest payment terms to bondholders recently.
The company had posted Rs 65.15 crore net profit in the corresponding period last year.
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 Infrastructure is rangebound on the daily chart with average volumes and trading at trend line resistance level on the daily chart. We recommend to buy from current level for the target of Rs 90 with the stop loss of Rs 82," says Mustafa Nadeem of Epic Research.
The company had posted a profit of Rs 67.21 crore in October-December quarter of 2016-17.
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.
"The Board of Directors of SEFL ... has approved, subject to approval of its shareholders, marketing conditions and receipt of requisite approvals from statutory and other authorities, an IPO of its equity shares by way of issue of fresh equity shares up to Rs 2,000 crore," Srei Infrastructure Finance said in a regulatory filing.
"The public issue of Bharat Road Network will open for subscription on Wednesday, September 06, 2017 and will close on Friday, September 08, 2017," the company said in its filing.
SREI Equipment Finance going to come up with an initial public offering (IPO). In an interview to CNBC-TV18, Sunil Kanoria, Vice Chairman of SREI Infrastructure Finance spoke about the latest happenings in his company and sector.
"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.
SREI Infrastructure Finance is under pressure as the company reported an operationally weak quarter. In an interview to CNBC-TV18, Hemant Kanoria, CMD of the company discussed more on the quarterly performance.
Ashish Kyal of Waves Strategy Advisors is of the view that oen may buy Bajaj Finserv with a target of Rs 5190.
Ashwani Gujral of ashwanigujral.com suggests buying Century Plyboards, Brigade Enterprises, HUDCO, Aurobindo Pharma and Biocon.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell NIIT Technologies and SREI Infrastructure Finance and can buy CG Power and Industrial Solutions.
Jay Thakkar of Anand Rathi is of the view that one may buy Prestige Estates Projects with a target of Rs 267.40.