Shriram Group waits for NCLT approval of merger, ready for integration

Group conducting trial run at branches, preparing super app for merged entity called Shriram Finance

The merger of Shriram Transport Finance (STFC) and Shriram City Union Finance (SCUF) is expected to get approval from the National Company Law Tribunal (NCLT) on October 19.

The group is preparing the ground to announce the new entity, Shriram Finance, by the second week of November, and is ready with technological and physical integration to start operations. The merger has already been cleared by the Reserve Bank of India, Insurance Regulatory and Development Authority of India, and Securities and Exchange Board of India.

The new entity is expected to have combined assets under management (AUM) of more than Rs