SREI Infra CEO Rakesh Bhutoria resigns freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
Cerberus joined two other prospective investors for infusing capital into Srei Equipment Finance (SEFL), a wholly-owned subsidiary of Srei Infrastructure Finance.
Srei announces third prospective investor for capital infusion
SECTIONS
Share
Synopsis
Cerberus joined two other prospective investors for infusing capital into Srei Equipment Finance Ltd (SEFL), a wholly owned subsidiary of Srei Infrastructure Finance.
Earlier in the month, the US-based Arena Investors LP and Singapore s Makara Capital Partners showed interest to invest up to $250 million.
The Srei Group announced that it received an expression of interest for capital infusion from New York headquartered private investment firm Cerberus Global Investments B.V.
The group however did not disclose the committed size of infusion.
Cerberus joined two other prospective investors for infusing capital into Srei Equipment Finance Ltd (SEFL), a wholly owned subsidiary of Srei Infrastructure Finance.
Explore Now
Kolkata: The US-based Arena Investors LP and Singapore s Makara Capital Partners have shown interest to invest up to $250 million in Srei Equipment Finance, the Srei Group announced on Thursday. Srei Equipment is a wholly-owned subsidiary of
Srei s strategic coordination committee, headed by independent director Malay Mukherjee, will coordinate and negotiate with the PE investors to bring the capital. Ernst & Young will be advising the committee on the proposed fund raising.
Arena Investors LP is a multi-strategy investment firm with $2.2 billion of committed capital. It provides creative solutions for those seeking capital in special situations, Srei said. The firm s investment mandate is global, and also unconstrained in terms of asset class and industry.
The National Company Appellate Law Tribunal (NCLAT) has granted an ad-interim stay on a specific part of the Kolkata bench of NCLT’s order that barred the Reserve Bank of India from taking any coercive step against Srei group.
RBI had moved NCLAT against the Kolkata bench’s order. And, in an ad-interim order, the NCLAT said, We are of the view that if the operation of the aforesaid direction is stayed it will not prejudice the proceedings pending before the Tribunal. Therefore, we deem it appropriate to pass ad-interim order. In Para 34 of the impugned order following direction is stayed till the pendency of this appeal.