SREI Infrastructure Finance slips on profit taking

BNP Paribas Lease Group plans to acquire 2.51 crore shares representing 5% equity capital of SREI Infra

Shares of SREI Infrastructure Finance were down 4.5% at Rs 55.95 after investors booked profits following sharp gains in the previous session.

SREI Infrastructure Finance had gained sharply in the previous session after France-based BNP Paribas Lease Group acquired shares in SREI Infrastructure Finance against its stake in SREI Equipment Finance Ltd.

With a view to take advantage of opportunities in the broader infrastructure sector in India, BNP Paribas Lease Group plans to acquire 2,51,54,317 equity shares of SREI Infrastructure Finance representing 5% of the total paid-up equity share capital and in lieu thereof, transfer/sell its entire shareholding of 2,98,30,000 equity shares in SEFL representing 50% of the total paid-up equity share capital to SREI.

The stock opened at Rs 58.45 and touched a low of Rs 55.30. At 11:05am, over 3.1 million shares were traded on both the stock exchanges,