SREI Infrastructure Finance is not worried about the Rs 430-crore loan exposure to Kingfisher Airlines as the security of the loan has grown in value, Hemant Kanoria, Chairman and Managing Director, SREI Infrastructure Finance told CNBC-TV18 today.
"The value has appreciated quite a lot. So, therefore we are well-secured at this particular juncture. So, there is no concern for us," Kanoria said.
The non-banking financing company had last year acquired Kingfisher Airlines loans worth Rs 430 crore from ICICI Bank. Many in industry had believed that it was foolish move on the company’s part.
In another development, SREI Infrastructure Finance plans to soon raise Rs 150 crore via launch of non-convertible debentures. The proceeds from this issue will be utilised by the company in various financing activities.
12/03/13 moneycontrol.com
