Kolkata-based infrastructure finance company, Srei Infrastructure Finance, will raise Rs 250 crore through the issue and allotment of 2,50,00,000 warrants convertible into equity shares.At an extraordinary general meeting (EGM) held today, shareholders approved the issue of warrants convertible into equity shares in one or more tranches at a price of Rs 100 per share to the promoters group of the company by way of preferential allotment."The exercise is meant to raise Rs 250 crore which will cater to the long-term business requirements of the company. It will also raise the promoters' holding in the company from the current 20 per cent to around 35 per cent", Hemant Kanoria, vice-chairman and managing director of Srei Infrastructure told Business Standard.The company's stock attained a 52-week high today at Rs 134 with the last trading price being Rs 126.35.Srei Infrastructure is one of the country's leading non-banking financial companies has an asset base of more than $890 million or Rs 4,000 crore.It also offers a host of other financial services like distribution of insurance products, investment banking, capital market services, venture capital, foreign exchange services and retail financing services through its subsidiaries.This apart, it has pioneered the concept of renting of construction equipment in India through its subsidiary - Quipo Infrastructure Equipment.
