Shriram Capital, Shriram City Union to merge with Shriram Transport

The merged entity would have a combined AUM of over Rs 1.5 trillion, distribution network of over 3,500. All of these would be serviced by 50,000 employees

Shriram group will merge Shriram Capital Ltd (SCL) and Shriram City Union Finance Ltd (SCUF) with Shriram Transport Finance Ltd (STFC) as part of restructuring in the group. The new entity will be named Shriram Finance Ltd.

The merged entity would have a combined Assets Under management (AUM) of over Rs 1.5 trillion and a distribution network of over 3500. All of these would be serviced by a team of 50,000 employees. Pursuant to the merger, Shriram Transport will issue 1.55 shares for every one share of SCUF and 0.097 shares for every one share of SCL, STFC said in filing with BSE.

The boards of three companies have approved the merger of SCL & SCUF with STFC. The merger is subject to the approval of shareholders of three companies and regulatory bodies like Reserve Bank of India and National Housing Bank etc. The merger would help the group bring together all its lending products – Commercial vehicles, Two-Wheeler Loans, Gold Loan, Personal Loan, Auto Loan & Small Enterprise Finance. SCUF and STFC see this merger as an immense opportunity to strengthen their consumer offerings and provide a more holistic product basket encompassing all lending products….

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