India’s Largest Retail Finance Non-Banking Financial Company (NBFC) Shriram Finance Limited (SFL). Shriram Transport Finance and Shriram City Union Finance have now been merged to form Shriram Finance Limited.
Shriram Transport Finance Company, the largest financier of commercial vehicles, and Shriram City Union Finance, the largest two-wheeler financier and a leading investor in micro, small and medium enterprises (MSME), have merged. Shriram Finance Ltd. with a net worth of Rs. 40,900 crores and Assets of Rs. 1,71,000 crores, over 6.7 million customers in India will focus primarily on driving the self-employed and the MSME economy.
The launch took place at Hotel Four Seasons, Worli, Mumbai in the presence of depositors, creditors, shareholders, and media writers.
Mr. Umesh Revankar, an experienced Shriram veteran, is appointed as the Executive Vice Chairman of Shriram Finance Ltd. A natural culmination of a journey for 43 years and through the strengthened balance sheet will now serve the market better than before, as assured by Mr. Umesh Revankar.
Mr. Y S Chakravarti, Managing Director & Chief Executive Officer of Shriram Finance said that India is growing in terms of MSMEs and that it is the best time to merge the company with 3,600+ companies in various locations with more than 57,000 employees.
The company has also announced that Mr. Jugal Kishor Mohapatra has been appointed as the Chairman of the Company and Mrs. Maya Sinha as an Independent Director.
Wishing Best to the Company for its future endeavors.