Srei Equipment Finance Private Limited
Srei Equipment Finance Private Limited (SEFPL) is a Joint Venture between Srei Infrastructure Finance Limited ("Srei") and BNP Paribas Lease Group ("BPLG"). The Company was formed in 2006 with the objective of carrying on the business of acquisition, exchange, substitution and disbursement of construction and infrastructure equipment.
On May 31 2007, BNP Paribas Lease Group (BPLG), the leasing arm of BNP Paribas Bank, picked up 50 percent stake of the company following Srei's plan to hive off its Equipment Financing and Insurance Services to SEFPL. Leveraging on the global expertise of the BPLG and Srei in infrastructure equipment (IE) leasing and financing market, SEFPL plans to capitalise on the burgeoning opportunities in IE market expected to touch USD 7.0 - 7.5 bn by FY 2009-10 in India.
Srei's strong brand image domestically, local expertise and specialized equipment finance skills is expected to combine well with the global brand strengths of BPLG further consolidate Srei's leadership in the equipment finance business. Following the partnership with BNP, SEFPL plans to expand the product line into financing of agriculture, information technology, medical and other equipment.
The formation of this joint venture is a very significant step in the Indian Financial Services Market. The JV, being formed with an initial net worth of Rs. 800 crore would not only strengthen its ability to grow the business manifold but also help in strengthening the core activities and Srei Group position in the infrastructure sector.