Srei Equipment Finance is a wholly-owned subsidiary of Hemant Kanoria-led Srei Infrastructure Finance. Photo: Indranil Bhoumik/MintMumbai: Srei Equipment Finance Ltd, a wholly-owned subsidiary of Srei Infrastructure Finance Ltd, on Tuesday filed its so-called draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). Srei Equipment Finance offers loans for purchase of equipment for construction and mining, earth-moving, material handling, road construction, concrete mixing and material processing. In the year to March, Srei Equipment Finance clocked Rs2,495.33 crore in revenue and a net profit of Rs148.84 crore. It is the first subsidiary of Srei Infrastructure Finance to file a draft prospectus for an IPO.

Source: Mint November 28, 2017 21:11 UTC