Srei Equipment Finance Ltd approves IPO

The Board of Directors of Srei Equipment Finance Ltd (SEFL), wholly owned subsidiary of Srei Infrastructure Finance Ltd at its meeting on 25.10.2017 has approved, subject to approval of its shareholders, marketing conditions and receipt of requisite approvals from statutory and other authorities, an IPO of its equity shares by way of issue of fresh Equity Shares upto Rs. 2,000 Crores ('Fresh Issue Size').

The SEFL Board has also approved participation by the existing shareholder(s) of the Company in relation to such number of Equity Shares held by it which are eligible for Offer for Sale in accordance with ICDR Regulations, upon receipt of intimation by existing shareholder(s) of its intention to participate in any Offer for Sale of Equity Shares. The Fresh Issue Size shall be reduced to the extent of participation in offer for sale by existing shareholders, if any, as may be decided by the Board of Directors of SEFL or any duly constituted committee thereof, in its absolute discretion in consultation with the book running lead managers appointed in relation to the IPO.

Shares of SREI INFRASTRUCTURE FINANCE LTD. was last trading in BSE at Rs.117.15 as compared to the previous close of Rs. 121.05. The total number of shares traded during the day was 685325 in over 4817 trades.

The stock hit an intraday high of Rs. 124.6 and intraday low of 115.8. The net turnover during the day was Rs. 82627365.

Source : Equity Bulls

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