SEFL plans to dilute up to 25% of its capital

17 Aug 2017

Srei Equipment Finance Limited (SEFL) plans an initial public offering (IPO) of its equity shares, resulting in a dilution of up to a maximum of 25% of the post-issue paid-up equity share capital.
The board of directors of SEFL at a meeting held today has decided to evaluate public offering of its equity share capital and constitute an IPO Committee to take all decisions relating to the IPO, including appointment of advisors, investment bankers, legal counsels, etc.
Hemant Kanoria, Chairman and Managing Director, said: "In little less than three decades of our sustained growth in the equipment finance space, we have had experiential learnings from both growth and downturn. We believe that SEFL is well poised to ride the growth in equipment sales, and further consolidate its position as the market leader owing to its sound risk framework and deep delivery model; encompassing the complete ecosystem. Infusion of fresh capital into the business will help us achieve our growth objectives and result in enhanced stakeholder value."
Sunil Kanoria, Vice Chairman, added: "The growth in equipment sales has been driven by the government's increased spending in the infrastructure space. At Srei, we believe in offering solutions for the entire life cycle of the equipment instead of just being a financier. This increases our opportunity to assist customers with equipment loan/lease, deployment solutions, maintenance solutions, working capital products and exit solutions." (EOIC)