Shriram City Union Finance Ltd is India's premier financial services company specializing in retail finance. The company is a part of three decade-old Chennai-based Shriram Group India's premier financial services chain. The company offers multiple loan products to small business owners and for acquiring assets such as two wheelers commercial vehicles passenger vehicles loan against gold and personal loans. The company operates across India with 969 branches.The company has tie-ups with major dealers and top manufacturers across the country giving them the advantage of quick pay-offs and sanction of loans. They focus on semi urban and rural areas with products routed through either chit fund network of Shriram Chits or non chit fund network including dealers.Shriram City Union Finance Ltd was incorporated on March 27 1986 as a private limited company with the name Shriram Hire Purchase Finance Pvt Ltd. The company started their operations with truck financing. In October 29 1988 the company became a public limited company and the name was changed to Shriram Hire Purchase Finance Ltd. In March 1990 City Union Bank Ltd acquired shareholding to the extent of Rs. 20 lakh (200000 shares at par) after obtaining the necessary approvals from the Reserve Bank of India. Consequently the name of the company was changed to Shriram City Union Finance Ltd. The company is registered as a deposit taking asset financing NBFC with RBI and went public in 1994.Prior to 2002 the company was exclusively engaged in transport finance with special emphasis on financing pre-owned commercial vehicles to small road transport operators. In the year 2002 the company discontinued the truck financing business (except for trucks > 10 year old) as that business was consolidated in its sister concern (viz. Shriram Transport Finance Ltd). Since then the company product lines had expanded to include financing of consumer durables two-wheelers three-wheelers tractors commercial vehicles and non-commercial vehicles personal loans and enterprise funding.In the year 2002 the company entered the business of consumer durables financing through a tie-up with ICICI Bank. During the year 2004-05 the company increased the production capacity of generation of power by wind mills from 7800 kw to 12800 kw. Also their shares were listed on the National Stock Exchange with effect from April 4 2005.During the year 2005-06 the company forayed into the customer finance segment. The company ceased to be a subsidiary of Shriram Financial Services Holding Pvt Ltd with effect from March 31 2006 consequent to the transfer of 14421462 equity shares aggregating 53.22% of the paid up capital of the company to Shriram Enterprises Holding Pvt Ltd. Thus the company became the subsidiary of Shriram Enterprise Holdings Pvt Ltd. In April 24 2007 the company promoted a subsidiary company namely Shriram Non Conventional Energy Ltd. During the year 2007-08 they divested the shares held in Shriram Non Conventional Energy Ltd and thus Shriram Non Conventional Energy Ltd ceased to be a subsidiary company with effect from March 20 2008.During the year 2008-09 the company transferred the Bio mass plant to Shriram Non Conventional Energy Ltd with effect from January 10 2009 and making Shriram Non Conventional Energy Ltd as a wholly owned subsidiary company. This transfer is mainly to carry out only the core business of financing in the company.In July 2010 the company decided to set up a wholly owned subsidiary company for doing housing finance mortgage finance other related finances and such other activities as may be decided from time to time. In 2010 Shriram City Union Finance's net worth touched Rs 1000 crore.In 2011 Shriram City Union Finance successfully launched its maiden debt public issue. Shriram City Union Finance's subsidiary Shriram Housing Finance Limited (SHFL) commenced operations in December 2011. SHFL provides housing loans and loan against property. In 2014 Piramal Enterprises picked up 9.99% stake in Shriram City Union Finance at Rs 1200 per share through preferential allotment. In 2015 Shriram Housing Finance's assets under management crossed Rs 1000 crore. In 2016 Shriram City Union Finance became the largest two wheeler financer in the country based on volume. IDFC Group and Shriram Group signed an exclusivity agreement on 8 July 2017 to evaluate a potential combination of certain businesses and subsidiaries/affiliates/associate companies of the Shriram Group engaged in the credit and non-credit financial services sector with the IDFC Group. However despite best efforts the two groups could not hit common ground and arrive at a mutually acceptable structure and valuation. Accordingly the exclusivity period was terminated with effect from 30 October 2017.