"As per the scheme, SEFCL a wholly owned subsidiary of the company will be amalgamated with Shriram Transport Finance Company Limited," the company said in a filing on BSE.
No consideration will be discharged by the company since SEFCL is a wholly owned subsidiary of the company, it added.
The amalgamation is subject to approval by the High Court, shareholders, creditors and other relevant regulatory authorities, it said.
Shriram Transport Finance Company Limited is the flagship company of the Shriram Group which has significant presence in consumer finance, life insurance, general insurance, stock broking and distribution businesses.
Based in Mumbai, it manages assets over Rs 59,000 crore.
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