Srei Infra aims to raise funds

Non-banking finance companies like Srei Infrastructure Finance Limited is looking at raising upto Rs 3000 crore from banks over the next quarter for disbursals.

In the first two quarters of the current fiscal, the company has already disbursed close to Rs 5,000 crore, a growth of 60 per cent over the corresponding previous. According to Hemant Kanoria, chairman and managing director of Srei, “If the government allows external commercial borrowing (ECBs), then we should be able to raise an additional Rs 3,000 crore, over and above the loan we would get from the banks.”

“We will revise the Srei Benchmark Rate in January, from the current 14.5 per cent,” Kanoria added. Srei’s business ranges from infrastructure equipment finance, project finance, project advisory and project development to e-governance, investment banking, venture funds, insurance broking and equipment rental through Quippo.