Srei Equipment Finance to get $250m investment from Arena Investors and Makara Capital
Srei Equipment Finance (SEFL) said that it has received expression of interest from Arena Investors and Makara Capital Partners for investing up to $250 million in the company.
The Indian infrastructure financing services provider said that its strategic coordination committee (SCC) chaired by Malay Mukherjee will carry out negotiations with the two private equity funds for bringing the capital into the business. The committee will be advised by Ernst & Young (E&Y) on the proposed fund raising exercise.
Srei Equipment Finance stated: “The SCC will engage in discussions with the potential investors to raise fresh capital for the business, which will provide cushion against the pandemic induced stress in the Indian financial services space.
“The SCC will also be the nodal point for a comprehensive cash flow realignment plan with banks and financial institutions and for all external service providers, including investment bankers, lawyers and consultants.”
Based in the US, Arena Investors is a multi-strategy investment firm with $2.2 billion of committed capital.
On the other hand, Makara Capital Partners is a Singapore-based financial services company.
Based in Kolkata, Srei Equipment Finance is a fully-owned subsidiary of Srei Infrastructure Finance, a construction and mining equipment financing company.