Srei to fund used equip sector
In order to release capital for lending to used construction equipment and other purposes, Srei Equipment Finance plans to securitise Rs 800-900 crore of its assets during the current quarter, reports suggest. The company will focus on financing used construction equipment because growth in sale of construction equipment is slowing. Srei feels that used equipment financing has low credit risk and will help the company garner better margins. Srei has already concluded securitisation of assets amounting to Rs 186 crore, media reports indicate.