"The strategic coordination committee, chaired by an independent director, will evaluate the said offer and make recommendation of the board to the company," SEFL said.
The company, hit hard by the economic slowdown due to the coronavirus induced lockdown, has been looking to raise money for some time. Earlier in April this year, it had received investment interest of USD 250 million (around Rs 1,856 crore) from Arena and Makara put together.
Going by the separate intent of Rs 2,200 crore investment by Makara by picking up equity as well as some other securities in SEFL and Arena's Rs 2,000 crore investment interest, the Kolkata-based equipment financier has attracted more than double the amount of interest shown by these entities put together in April.
The unlisted entity SEFL is a fully owned subsidiary of Kolkata-based Srei Infrastructure Finance.
The company's strategic coordination committee (SCC) is chaired by independent director Malay Mukherjee.
Mukherjee has been tasked to coordinate, negotiate and conclude discussions with the PE investors to bring the capital into the business and advise the management.
Besides, Ernst & Young (EY) has been roped in to advise the committee on the proposed fundraising exercise, which is being carried out in parallel to the company's debt realignment plan.
Srei Equipment Finance provides financing mainly for construction and mining equipment.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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