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Board of SREI Equipment Finance approves IPO of up to Rs 2,000 cr

Shares of Srei Infrastructure Finance were trading 1.12% lower at Rs 119.70 on BSE

Press Trust of India  |  New Delhi 

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on Thursday said the board of its wholly-owned subsidiary (SEFL) has approved raising up to Rs 2,000 crore through an (IPO).

"The ... has approved, subject to approval of its shareholders, marketing conditions and receipt of requisite approvals from statutory and other authorities, an IPO of its equity shares by way of issue of fresh equity shares up to Rs 2,000 crore," said in a regulatory filing.

The SEFL's board also approved participation by the existing shareholders of in relation to a such number of equity shares held by it which are eligible for the offer for sale.

"The fresh issue size shall be reduced to the extent of participation in offer for sale by existing shareholders, if any, as may be decided by the or any duly constituted committee thereof, in its absolute discretion in consultation with the book running lead managers appointed in relation to the IPO," it added.

Shares of Srei Infrastructure Finance were trading 1.12 per cent lower at Rs 119.70 on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, October 26 2017. 17:32 IST