Shriram Capital closes in on a merger deal with two lending units

Shriram Capital Ltd is nearing a deal to merge with its two publicly traded shadow lending arms as it seeks to fold its offerings into a single entity, people familiar with the matter said.
 

Unlisted Shriram Capital is in the process of firming up the amalgamation with Shriram Transport Finance Co and Shriram City Union Finance Ltd after working on the deal for at least three years, the people said. The merged entity would have Rs 1.5 trillion ($20 billion) of assets under management, they said, asking not to be identified as the information isn’t public.
 

The group’s insurance business