A Tata Motors Ltd. truck makes its way through traffic on a road in Bangalore, India. (Photographer: Namas Bhojani/Bloomberg)

SREI Arm In Pact With Tata Motors To Finance Commercial Vehicles

SREI Equipment Finance, a subsidiary of SREI Infrastructure Finance Ltd., today entered into an agreement with Tata Motors Ltd. to finance the automaker’s commercial vehicles.

The focus will primarily be on the construction and mining tippers, Devendra Kumar Vyas, shief executive officer of the SREI Equipment Finance told BloombergQuint in an interview. The pact will allow both SREI Equipment and Tata Motors to explore enhanced growth prospects in the heavy-duty tipper truck segment in the country.

“We see good growth in mining, roads and irrigation segments, with a market size of Rs 12,000 crore for tippers and 30 percent amrket share with the euipment finance,” Vyas said.

Shares of SREI Infrastructure closed 1 percent higher at Rs 104.65 apiece on the BSE.