Skip to main content

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’s founder R Thyagarajan

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….

Labels:

Comments

Post a Comment

Popular posts from this blog

Meet Balesh Sharma, who will be the CEO of Vodafone-Idea merged entity

United Kingdom-based Vodafone Group and Aditya Birla Group have appointed Balesh Sharma as the chief executive officer (CEO) of the merged entity to be created as the local units of the two telecom majors come together for the India market. The appointment of Sharma has not come as a surprise to Vodafone employees, who have seen him taking control of the day-to-day functions of the company over the past year as its chief operating officer (COO). According to several employees of the company, over the past year or so, Sharma was the man responsible for running the company, with Vodafone India CEO Sunil Sood taking a backseat for routine activities. When everybody was guessing about the CEO of the new entity, there were a few people in Vodafone who were sure about Sharma taking the reins of the new company. Sharma, having worked in different positions for over 25 years, has been a Vodafone veteran.He was specially called to India in April 2017 as COO from the Czech Republic. Th...
Post a Comment
Read more

Best Unconventional Workout and Sporting Activities for Summer

In summers, depending upon conditions and circumstances one can incorporate both outdoor  and indoor activities in their training schedule.   Summer is the season of holidays, picnics, outings and beaches. With travel and binge eating proper workout becomes that much more essential in summers. But with heat and the sun outdoors, an individual has to balance his indoor and outdoor activities to get a fulfilling workout. In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Mentioned below are some of the best physical and sporting activities that one can use as a workout to stay fit in the summer season. Beach Sports - If in summers one is going to spend much time on beaches or at a beach destination then one may use beach sporting activities such as beach rugby, beach soccer, beach tennis and beach volleyball to stay fit. All of these sporting activities on sand provide a ...
Post a Comment
Read more