BNP Paribas and Srei Infrastructure today said they have invested about Rs 200 crore in their equal joint venture, Srei Equipment Finance (Private) Ltd to expand business.
“Both the shareholders are equally committed to the growth of the infrastructure equipment finance business. Enhanced equity will strengthen the capital base of Srei Equipment Finance and the additional leveraging will lead to further growth,” DK Vyas, CEO - Equipment Finance, Srei said.
The fresh investment will take the net worth of Srei Equipment Finance to over Rs 1,660 crore, according to a release issued here.
“Being a leader with over 30 per cent market share in infrastructure and construction equipment financing, Srei Equipment Finance mirrors industry growth,” Vyas said.
Srei Equipment Fin is into equipment financing in the infrastructure, agriculture, medical, information and technology space.
The company is expected to grow by 10-15 per cent over the last year when the disbursement stood at Rs 12,710 crore.
The asset under management of Srei Equipment was over Rs 18,492 crore as of June this year.