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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.
RBI weighs options for oversight of two Srei group companies
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Synopsis
The Reserve Bank of India (RBI) is understood to be weighing various options including board-level monitoring of the two companies, Srei Equipment Finance and Srei Infrastructure Finance, through either induction of new directors or appointment of an external agency.
Agencies
The suggestions were given in the course of a recent meeting between the regulator and the firm it engaged to conduct a special audit of the Srei companies.
Srei, one of the country’s largest non-banking finance companies, is hurtling towards a tricky terrain.
The Reserve Bank of India (RBI) is understood to be weighing various options including board-level monitoring of the two companies, Srei Equipment Finance and
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