SREI Infra launches $50-mn Shariat fund
SREI Infrastructure Finance on Tuesday introduced yet another innovative financial instrument in the Indian market, reports Our Bureau in Kolkata.
By TNN |
SREI Infrastructure Finance on Tuesday introduced yet another innovative financial instrument in the Indian market, reports Our Bureau in Kolkata. It launched the first Shariat-compliant instrument — a $50-million fund arranged by HSBC. A Shariat-compliant fund is a financial vehicle against the conventional model of borrowing and lending in the investment banking community.
The company said that the route holds immense potential to tap non-conventional funding available in different markets in Asia and the Gulf. Although the facility is complex and involves extensive structuring, the syndication has received good response from investors in Asia and the Middle East, enabling SREI Infrastructure to expand its investor base.
The instrument provides investors an opportunity to take exposure in India’s booming infrastructure which needs investments worth $592 billion plus over the next five years, the
company stated.
The company said that the route holds immense potential to tap non-conventional funding available in different markets in Asia and the Gulf. Although the facility is complex and involves extensive structuring, the syndication has received good response from investors in Asia and the Middle East, enabling SREI Infrastructure to expand its investor base.
The instrument provides investors an opportunity to take exposure in India’s booming infrastructure which needs investments worth $592 billion plus over the next five years, the
company stated.
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