ORIX Corp brings in Rs.1,970 mn additional equity

ORIX Auto Infrastructure Services Limited (OAIS) Tuesday said it has completed a capital increase of Rs.1,970 million through allotment of shares to its parent company ORIX Corporation Japan.

The equity would be used to grow and consolidate its leadership position across the various segments that ORIX Group operates in India, in line with its long term vision.

In India, OAIS and OAIS Auto Financial Services Ltd (OAFS) operates as a diversified transport solution provider, with a wide range of services for its corporate and retail customers.

OAIS is one of the largest car rental company in India. It also operates a large fleet of vehicles providing employee transportation solutions to corporates.

The additional equity of Rs.1,970 million has been infused to support the opportunity for growth in the various segments that Orix operates in, be it car rentals, leasing, employee transportation and mobility solutions and commercial vehicle financing.

"Today we have a fleet of 15,000 vehicles across the above business segments. We see all categories growing at 15 to 20 percent every year, over the next 3 to 4 years," OAIS managing director and CEO Sandeep Gambhir said in a statement.

"We see a big opportunity in leasing and the other transportation solutions that we provide as more and more corporates appreciate the value of the services that we provide and the additional equity would be deployed to help meet the growth potential in these segments and further consolidate on our leadership position across businesses," he said.