Srei to list equipment finance business

Srei Infrastructure Finance Ltd on Monday said it would list the equipment finance business through a composite scheme of arrangement and amalgamation.

The company would also augment the capital base of both the infrastructure finance and equipment finance businesses, Chairman and MD Hemant Kanoria told reporters here.

Kanoria said Srei has decided to go for an IPO of the equipment finance vertical, for which it got approval in September last year.

However, the IL&FS crisis led to the deferment of the decision, he said.

Kanoria said the proposed capital augmentation scheme is expected to further infuse around Rs 500 crore in the equipment finance business, and would lead to higher growth in revenue and profit.

The implementation of the scheme would take six months to one year.

"We do not want to raise the book size of the infrastructure company, as elections are round the corner", he added.