SREI Infrastructure rakes in Rs.400 crores business in single day at New Delhi event

SREI Infrastructure Finance Ltd has announced that the raked in business of a whopping Rs 400 crore in a single day "Paison Ki Nilami" (PKN) event held on February 16th at New Delhi.

The enthusiasm exhibited by customers bidding for the lowest possible interest rate on loans availed by them was phenomenal given the unprecedented turnout at the venue itself. On the CII platform for the first time, "Paison Ki Nilami" attracted over 700 customers to the 'reverse auction', which allowed them to hammer down coupon rates on loans sought by them for infrastructure equipment purchases. Simultaneously, the Company also ran its other popular schemes such as SREI Lotto, where luck played a part in the freezing of the interest rates, and SREI Money Bag, a passbook scheme with pre-determined credit limits to customers. The advantage of such a scheme is that customers can draw upon amounts or tranches of loan as per their requirement subject to a maximum limit.

The three schemes attracted over 1,500 customers across the country including over 900 registered bidders resulting in an aggregated business profile of Rs 400 crore in just a single day which underscores the Company's success in event based marketing programmes.

The equipment pool for the Delhi show ballooned to over a 1,000 numbers valued over Rs 400 crore. Eight hundred and sixty of the equipment pool was attributed to the "Paison Ki Nilami" event itself, while around 200 odd equipment were sought by customers through the other schemes SREI Lotto and SREI Money Bag.

K K Mohanty, executive director said, "the entire credit for this success goes to our valued customers who have, over the years, exhibited tremendous confidence in our innovative and holistic value-added offerings in partnership with manufacturers."

"PKN", on the Company's calendar for the last two years has unleashed four such editions, the first time being in November 2004 in Kolkata. The maiden event attracted nearly 300 bidders and a business of over Rs 100 crore. Traversing through Bhubaneswar, Hyderabad and now New Delhi, "PKN" has come a long way, the business as well as the customer base having grown substantially.

The event in Delhi also for the first time attempted a different brand of communication about the Company's business focus and commitment to its customers in a fine art format. Besides, the Company also introduced a unique concept called 'Infra Walk', where the infrastructure industry leaders walked the ramp and communicated their "wisdom message" to the audience. The fund raised through this walk, an amount of Rs 33 lakhs, was donated to a CII-sponsored NGO called "Indian Business Trust for HIV-AIDS". The proceeds will be utilized for undertaking treatment of HIV affected workers in the building and construction industry.

Source : Equity Bulls

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