SREI Equipment Finance Receives EOIs from Two International PE Funds for $ 250 Million Capital Infusion
SREI Equipment Finance Ltd (SEFL) says it has received expression of interest (EOIs) for up to $250 million capital infusion in the company from two international private equity (PE) funds.
In a statement, SEFL says, US-based Arena Investors LP and Singapore's Makara Capital Partners have expressed interest in investing in the company.
“The company's strategic coordination committee chaired by Malay Mukherjee, independent director, will coordinate, negotiate and conclude discussions with the PE investors to bring the capital into the business and advise the management. Ernst & Young will be advising the committee on the proposed fund raising exercise,” the statement says.
Arena Investors LP is a multi-strategy investment firm, which claims to provide creative solutions for those seeking capital in special situations.
Makara Capital Partners is a financial services company under the
regulatory purview of the Monetary Authority of Singapore, which specialises in fund management, private equity as well as structuring and financing with a core focus on innovation, infrastructure and energy.
A spokesperson of SREI Equipment Finance says the SCC is running an independent process for investor identification after receiving EoI from Arena Investors and Makara Capital Partners.
“This process is being carried out in parallel to the debt realignment plan. 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,” he added.