SEFC to raise `200 crore
Shriram Equipment Finance Company (SEFC) is planning to raise about Rs 150-200 crore from private equity (PE) investors and rope in strategic investors. Umesh Revankar, Managing Director of Shriram Transport Finance, said the company is expected to grow at a compounded annual rate of 15 per cent. According to him, the demand for equipment finance has picked up in the last two months. During this period, SEFC's assets under management increased 20 per cent, exceeding Rs 3,200 crore, he said. The fact that the construction sector is expected to see a turnaround may also draw investors to SEFC. By 2020, the construction equipment sector's revenue is estimated to touch $22.7 billion, against $5.1 billion in 2011-12.