SEFL forms Strategic Coordination Committee for raising fresh capital

The board of SreiEquipment Finance Limited (SEFL) at its meeting held recently, constituted aStrategic Coordination Committee (SCC), comprising of Independent Directors, tocoordinate, negotiate and conclude discussions with potential strategic and/orprivate equity investors, to raise fresh capital for the business inconsultation with the management. The SCC will be chaired by Malay Mukherjee,Independent Director and the other committee members will be the IndependentDirectors being Suresh Kumar Jain, Dr. (Mrs.) Tamali Sen Gupta, Uma ShankarPaliwal, and Shyamalendu Chatterjee with invitees having relevant domainknowledge.

SEFL, one ofIndia's largest equipment finance companies, said that it has receivedexpression of interest from international investors for proposed capitalinfusion. The proposed capital infusion is expected to strengthen SEFL'scapital base and help the company emerge out of pandemic induced stress inIndian financial services space.

SEFL has beencontinuously exploring opportunities to strengthen its capital base.

The committee willtake forward the expression of interest received from international investorsand will also initiate discussions with other potential suitors who have beenin touch with the company over the last one year in consultation with the management.The committee will be assisted by advisors and investment bankers who will beworking closely with the members.

The SCC will bethe nodal point for a comprehensive cash flow realignment plan with banks andfinancial institutions and for all external service providers, including investmentbankers, lawyers and consultants.


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