Shriram Finance Limited, a significant provider of commercial vehicle financing, has merged with two-wheeler and MSME financier Shriram City Union Finance (Shriram Finance).
The company would be a diverse player, serving more than 6.7 million consumers throughout India, with an impressive net worth of Rs 40,900 crore and assets under management (AUM) of Rs 1,71,000 crore.
The company's growth plan will be centered on promoting the economy of micro, small, and medium-sized enterprises (MSME) and the self-employed.
Umesh Revankar, Executive Vice Chairman, commented on the merger by saying, "It is the inevitable culmination of a journey of 43 years." Due to the merger's improved balance sheet, we are better able to meet market demands than before.