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Srei To Raise $ 1 Billion Overseas Equity Fund

PTI 25 Aug 2011, 19:09:26 IST

Mumbai, Aug 25: Infrastructure finance company Srei today said it would raise a USD 1 billion infrastructure equity fund from overseas to invest in road, power and ports projects.

“We will be raising USD 1 billion from overseas investors for the infrastructure equity fund,” the company's Chairman and Managing Director Hemant Kanoria told reporters on the sidelines of a FICCI conference here.

The first tranche of USD 500 million will be raised by end March 2012 and roadshows for it will start by the next month, he said.

The money will be raised from pension and endowment funds looking at participating in the Indian infrastructure space, Kanoria said, adding the company has already deployed USD 200 million in domestic infra projects through two similar equity funds raised from domestic investors.

Srei is also looking to dilute its stake in some road projects but is “not in a hurry”, he added. PTI