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Shriram group mulls merger of Shriram Transport Fin, City Union

Press Trust of India  |  New Delhi 

firms and (SCUF) are in early stages of discussion for merger, a source said today.

The move is aimed at listing the holding company

"Discussions are going on. The advantages and merits of the merger are being looked into," the source said.

However, it is not a binding constraint to merge STFC and for listing process of as the group is also looking to go solo to list the holding company that manages the financial services arms of the

"We are looking at various options, including listing of Shriram Captial solo also," said the person privy to the development.

On asked how much time it can take if things materialises, the person said that the there is no such hurry.

"If things fall in place, the merger can happen in about 8-9 months," the person added further.

Shriram Transport Finance mainly caters to the financing needs of customers who want to own commercial vehicles.

With over 1,213 branches and 930 rural centres across the country, the company has a large presence in financing pre-owned trucks and small truck owners. The company's asset stands at Rs 95,306 crore.

Shriram City is among the players in the The company offers multiple to small business owners and for acquiring assets such as two wheelers, commercial vehicles, passenger vehicles and homes.

It also offers loans against gold ornaments and for personal consumption.

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

First Published: Mon, July 09 2018. 17:05 IST
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