Srei Equipment Finance forms committee to raise fresh capital

KOLKATA: The board of Srei Equipment Finance has formed a coordination committee to talk to potential strategic and private equity investors, as the non-bank lender looks to raise fresh capital.

The strategic coordination committee consisting of independent directors would coordinate, negotiate and conclude equity raising, the company said on Wednesday.

They will do it in consultation with the management.

The committee will be chaired by Malay Mukherjee, an independent director in the board. Independent directors Suresh Kumar Jain, Tamali Sen Gupta, Uma Shankar Paliwal and Shyamalendu Chatterjee are other members.

The proposed capital infusion is expected to strengthen Srei Equipment Finance's capital base and help the company emerge out of pandemic induced stress in Indian financial services space. Srei Equipment Finance is a wholly-owned subsidiary of .

The committee will 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.