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Sundaram Finance to merge IT subsidiary with itself

Press Trust of India  |  New Delhi 

today said it will merge its IT subsidiary with itself.

"The board of directors have decided to merge Sundaram Solutions, our wholly-owned subsidiary, with our company and approved the draft scheme of amalgamation," the company said in a regulatory filing.

The scheme is subject to all necessary approvals, it added. Promoted by Madras Motor Company, is a part of TVS Group.

The Chennai-based financier offers vehicle finance, construction equipment finance, tyre Finance, and fleet cards.

Through its subsidiaries, it also has a diversified presence in general insurance, mutual funds, housing finance, Business Process Outsourcing, Services and retail distribution of a wide array of financial services.

of closed 0.66 per cent higher at Rs 1,219.05 on

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 25 2016. 20:14 IST