Srei Equipment Finance files IPO papers with Sebi
30/11/2017 00:28
Srei Equipment Finance, a subsidiary of Srei Infrastructure Finance, has filed draft papers with markets regulator Sebi to float an initial public offering, reported PTI.

The IPO comprises fresh issue of equity shares worth Rs 1,100 crore, besides, Srei Infrastructure Finance will sell up to 43,86,765 shares in an offer for sale, the listed entity said in a regulatory filing to the exchanges.

Srei Equipment Finance provides loans for the purchase of equipment for construction and mining, IT infra, healthcare and farm.

Earlier in September, Bharat Road Network, a Srei Infrastructure Finance company, got listed on the bourses.

Srei Equipment Finance filed its preliminary papers at a time when the capital market is witnessing a spurt in initial share-sales.

This year so far, 33 companies have raised over Rs 60,000 crore through IPOs. Indian equity market is heading for a record haul in 2017 in terms of money raised through IPOs as a number of big-ticket offers are already lined up for the coming weeks.

So far, the highest amount of funds raised through IPOs in a full calendar year in 2010 stood at Rs 37,535 crore -- a level which has already been exceeded by a big margin in 2017.

In the entire 2016, a total of 26 firms had collected more than Rs 26,000 crore through the IPO route.