Srei Infrastructure Finance (Srei infra) has received an approval to transfer its lending Business, Interest Earning Business & Lease Business into Srei Equipment Finance, a wholly owned subsidiary of Srei Infra, together with associated employees, assets and liabilities (including liabilities towards issued and outstanding non-convertible debentures issued by Srei Infra), as a going concern basis by way of slump exchange, for a lump sum consideration. The Board of Directors of the company at its meeting held on July 4, 2019 has considered and approved the same.
The proposed step will also facilitate the lending entity, Srei Equipment, to attract strategic investors and also prepare Srei Equipment for a conversion into a bank, as and when the Reserve Bank of India (RBI) decides to allow the conversion. The revised corporate structures will now enable the companies and their management to focus on specific areas of their expertise.
Srei Infrastructure Finance lends for financing infrastructure projects across sectors such as roads, ports, mining and power as well as purchase of infrastructure equipment.
Company Name | CMP |
---|---|
Bajaj Finance | 6745.20 |
Shriram Finance | 2335.90 |
Aditya Birla Capital | 221.45 |
SBI Cards AndPayment | 713.70 |
Chola Invest & Fin. | 1268.00 |
View more.. |