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Srei Equipment Finance receives EoI for up to $250 mn capital infusion
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SME Times News Bureau | 08 Apr, 2021
Srei Equipment Finance Ltd on Thursday said that it has received
expression of interest for up to $250 million capital infusion in the
company from US-based Arena Investors LP and Singapore's Makara Capital
Partners.
In a regulatory filing, Srei said that the company's
Strategic Coordination Committee (SCC), chaired by Independent Director
Malay Mukherjee, will coordinate, negotiate and conclude discussions
with the PE investors to bring the capital into the business and advise
the management.
Arena Investors LP is a multi-strategy investment
firm with $2.2 billion of committed capital. The firm's investment
mandate is global, and also unconstrained in terms of asset class and
industry. It provides creative solutions for those seeking capital in
special situations.
Makara Capital Partners is a global financial
services company under the regulatory purview of the Monetary Authority
of Singapore. Founded in 2005, it specialises in fund management,
private equity as well as structuring and financing with a core focus on
innovation, infrastructure and energy.
"The SCC is running an
independent process for investor identification and has received
expression of interest from Arena Investors LP and Makara Capital
Partners. This process is being carried out in parallel to the debt
realignment plan," the filing said.
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 committee 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.
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