homevideos Newsinformation technology NewsSREI Equipment looks to raise around Rs 1,100 crore via IPO
SREI Equipment looks to raise around Rs 1,100 crore via IPO
SREI Equipment Finance is looking to raise around Rs 1,100 crore via IPO, said Devendra Kumar Vyas, CEO of the company.
“As per our DRHP which we have filed, we are looking at around Rs 1,100 crore as fresh equity in the company,” said Vyas.
The company received Securities and Exchange Board of India's (SEBI) nod to go ahead with its initial public offering (IPO).
SREI Equipment is an equipment financing company that finances hardware and software equipment, healthcare equipment and farming equipment. The firm has a market share of approximately 33 percent.
“SREI Infrastructure has made a lot of strategic investments. They have grown its asset book as well as its investment book, so they have made strategic investment and they have been monetising these investments. It is a good model to keep making strategic investments and keep monetising to improve the return on equity (RoE) for the investors,” said Vyas.
“The RoE for SREI Equipment for the June quarter is around 15.7 percent and in March it was around 11 percent,” he further mentioned.
First Published: Sept 11, 2018 1:43 PM IST
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