Oct 12, 2012
BNP Paribas, Srei Invest Rs200 Crore in Equipment Finance JV
The fresh investment by BNP Paribas and Srei Infra will take the net worth of their joint venture Srei Equipment Finance to over Rs1,660 crore
Mumbai: BNP Paribas and Srei Infrastructure said they have invested about Rs200 crore in their equal joint venture, Srei Equipment Finance (Private) Ltd to expand business, reports PTI.
“Both the shareholders are equally committed to the growth of the infrastructureequipment finance business. Enhanced equity will strengthen the capital base of SreiEquipment Finance and with additional leveraging, will lead to further growth,” SreiEquipment Finance CEO DK Vyas said.
The fresh investment will take the net worth of Srei Equipment Finance to over Rs1,660 crore, according to a release issued here.
“Being a leader with over 30% market share in infrastructure and construction equipmentfinancing, Srei Equipment Finance mirrors industry growth,” Vyas said.
Srei Equipment Finance is into equipment financing in the infrastructure, agriculture, medical, information and technology space.
The company is expected to grow by 10-15% over last year when the disbursement stood at Rs12,710 crore.
The asset under management of Srei Equipment was over Rs18,492 crore as of June this year.