Shares of Srei Infrastructure Finance Limited, on Friday, hit 20 per cent upper circuit at Rs 7.02 on the BSE after its subsidiary Srei Equipment Finance Limited (SEFL) said it has received expression of interest for up to $250 million capital infusion in the company from international private equity (PE) funds. Srei Equipment Finance Limited ( SEFL ) said that it has received expression of interest for up to USD 250 million capital infusion in the company. The international private equity ( PE ) funds are US-based Arena Investors LP and Singapore s Makara Capital Partners, the company said, in a press release. CLICK HERE FOR THE PRESS RELEASE
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Snapping their 3-day winning streak, domestic equity markets traded range-bound in the negative territory on Friday, with a few episodes of gains. Amid mixed global cues and record Covid-19 cases back home, coupled with reports of vaccine supply crunch, the benchmark indices dropped 0.3 per cent today. Among headline indices, the S&P BSE Sensex ended the day at 49,591 level, down 155 points. 50 per cent of the constituents ended the day in the red with Bajaj Finance (down 3 per cent), Ultratech Cement, NTPC, ICICI Bank, Axis Bank, IndusInd Bank, and Reliance Industries leading the list of losers. On the upside, Sun Pharma, HUL, Tech Mahindra, Titan Company, Dr Reddy s Labs, and HCL Tech were the top gainers on the index, up in the range of 1 per cent to 3.5 per cent.
Srei Infrastructure Finance hit an upper circuit of 20% at Rs 7.02 after the company said its subsidiary, Srei Equipment Finance, received expression of interest for up to $250 million capital infusion from international private equity funds.Srei Equipment Finance (SEFL) has received expression of interest (EoI) for up to $250 million capital infusion in the company from US based international private equity (PE) fund Arena Investors and Singapore s Makara Capital Partners.
SEFL said that its strategic coordination committee (SCC) chaired by Malay Mukherjee, independent director, will coordinate, negotiate and conclude discussions with the PE investors to bring the capital into the business and advise the management. Meanwhile, Ernst & Young will also be advising the committee on the proposed fund-raising exercise.
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