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This is an archive article published on May 16, 2011

SREI Infra Fin plans $1 billion fund

SREI Infrastructure Finance plans to raise $500 million-1 billion from foreign investors for a dedicated fund.

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SREI Infrastructure Finance Ltd plans to raise $500 million-1 billion from foreign investors for a dedicated fund to be set up by March next year to invest in Indian infrastructure projects,its chairman said in an interview on Monday.

The company’s profits will likely grow at 25-30 percent in the fiscal year ending March 2012,though a slew of rate hikes by the Reserve Bank of India will slow down the momentum of the sector,Hemant Kanoria told Reuters.

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