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Shriram Financial To Be Holding Financial Services After Merger

The merger will help the Shriram Group bring together all its lending products, commercial vehicles, two-wheeler loans, gold loans, personal loans, auto loans, and small enterprise finance under a single umbrella called Shriram Finance

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Shriram Financial Ventures (Chennai) (SFVPL), which was the holding company of Shriram Capital (SCL), will become the promoter and holding company of the financial services and insurance businesses of the group after the merger. This follows after tge announcement that SCL and Shriram City Union Finance will soon be merging with Shriram Transport Finance. 

SFVPL is jointly owned by Shriram Ownership Trust and Sanlam Group of South Africa. It will help each of its investee companies in the group to expand and grow while continuing to look for newer business opportunities in the financial services sector. The focus will be to drive growth using both technology and finance. DV Ravi, managing trustee of SOT and erstwhile MD of SCL, will be the vice chairman and MD of SFVPL. 

The board of SFVPL will comprise full-time directors, nominee directors, and independent directors, with retired IAS officer KP Krishnan as its independent director and non-executive chairman. Shriram Group had in December 2021 announced the merger of Shriram Capital with Shriram City Union Finance and Shriram Transport Finance. The merger will help the Shriram Group bring together all its lending products, commercial vehicles, two-wheeler loans, gold loans, personal loans, auto loans, and small enterprise finance under a single umbrella called Shriram Finance. The company has already received approvals from CCI, NCLT, and Irdai and looking for an announcement of the completion of the merger process by December. 


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