SREI Infrastructure To Raise Rs 1,500 Cr From Debt Mart

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Kolkata-headquartered SREI Infrastructure Financial Ltd plans to raise Rs 1,500 crore through debt market via instruments like debentures, bonds, credit lines and securitisation of assets. The non-banking finance company (NBFC) has also approached the Reserve Bank of India (RBI) for permission to raise resources through external commercial borrowings (ECBs).

“Infrastructure finance requires long-term funding. It is difficult to raise this kind of money in the domestic market. Hence, we have moved the RBI for permission to raise funds through ECBs,” said vice-chairman and managing director, Hemant Kanoria, on the sidelines of a press conference to announce change in the company’s name from SREI International to SREI Infrastructure Finance Ltd.

Meanwhile, SREI opened its first 100% owned subsidiary in Germany last month, and plans to expand its overseas operations. “We’ve already created a model for infrastructure financing in India. We now want to replicate this globally. We plan to set-up more subsidiaries overseas, and are currently evaluating countries like Russia and England, among others, for the same,” said Mr Kanoria, adding that these would be launched through its German subsidiary.

SREI is a niche player in infrastructure financing, with core operations in infrastructure equipment, infrastructure project finance and renewable energy finance. Revenues from infrastructure financing account for 94% of the company’s consolidated revenues.