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SREI Infra confident of getting SEBI approval for IPO by year-end

Updated : September 06, 2018 13:38:09 IST

SREI Infra posted a 114 percent jump in its Q1 profit to Rs 139.57 crore in the June quarter.

Sunil Kanoria, vice-chairman at SREI Infra, spoke to CNBC-TV18 about the business outlook, earnings and IPO plans.

Clarifying about the Sameer Sawhney’s resignation from Infra business, Kanoria said,"He still is very much part of SREI Group but has moved out SREI Infra as CEO and moved to their fund business out of Singapore."

“He was always based in Singapore and as fund business is building up, he would be focusing there,” said Kanoria.

Talking about a successor to Sawhney, Kanoria said, "The key focus being more on the fund business than SREI Infra, there is no need for senior management officials currently."

On the business outlook, he said, "Out of the SREI businesses, the equipment finance business is doing very well but growth for the infra finance business has been tepid. So focus on equipment finance business continues.

With regards to IPO of the equipment finance business, the company is hopeful and confident of getting SEBI approval by end of 2018."

"The disbursement growth in April usually is a bit slower than March, which is a peak quarter but overall business is still strong for the equipment business, he said.

On the margin front too, Kanoria said,"We are confident of maintaining them at similar levels which they have maintained for the last 10 years."
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