Shriram Transport Finance and Shriram City Union Finance merged

Shriram Transport Finance Company and Shriram City Union Finance, the  two-wheeler financer and cum micro, small and medium enterprise (MSME) have been merged to form Shriram Finance Limited (Shriram Finance).

Shriram Finance will be a diversified player with a robust net worth of Rs 40,900 crore and assets under management (AUM) of Rs 1,71,000 crore, the Company caters to over 6.7 million customers across India.

The growth strategy for the Company will be focused on driving the self-employed and the MSME economy, said Mr Umesh Revankar, a long-serving Shriram veteran, will serve as Executive Vice Chairman of the merged entity.

Shriram Finance further announced the appointment of Mr Jugal Kishor Mohapatra as Chairman of the Company and Mrs Maya Sinha as an Independent Director. The company also announced its growth strategy - Driving the Self-employed and Small Business Economy and has chalked out five strategic pillars to drive future growth.