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Srei Infrastructure Finance has decided to participate in the initial public offering of Srei Equipment Finance Ltd, as a selling shareholder. The company has decided to sell 43,86,765 shares of SEFL in the proposed offer. Earlier, Srei Equipment Finance, a wholly owned subsidiary of Srei Infrastructure Finance, had announced plans for diluting up to 25 per cent of its equity capital through an initial public offering to raise ₹1,800-2,000 crore. The IPO could hit the market by the end of this financial year, the company had then said. Shares of Srei Infrastructure closed at ₹109, up 1.5 4per cent on the NSE.
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