Srei Infrastructure Finance Ltd, India?s leading infrastructure equipment financing company, plans to disburse Rs 7,500 crore in the current fiscal. Buoyed by the success of its ?paison ki nilami?, an auction of interest rates for acquiring infra equipment, it is planning to roll out the product in Tier-II cities across the country, according to KK Mohanty, executive director, Srei Infrastructure Finance.
?We are bullish on the infrastructure equipment financing segment. We see that our unique ?auction? of interest rates have been well received by equipment vendors as well as construction companies and we have financed over 10,000 customers,? he told FE.
?After covering all the major cities, the company has decided to move to Tier-II cities across the country to bring more and more infrastructure equipment vendors under its fold by offering quick finance at attractive interest rates,? he said. ?There is an immense potential for us to grow as the size of infrastructure equipment finance market is estimated to grow to Rs 25,000 crore in next two years as against Rs 15,000 crore now,? he said. Srei will continue to lead the equipment financing segment in India and has set a target of achieving Rs 7,500 crore worth business in the current fiscal.
?The company will continue to raise funds from FIIs, FIs and banks. Raising of funds will not be a problem for us as we have 40 banks, 20 FIs and similar number of FIIs to support our growth strategy,? he said.