iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Shriram Transport gets creditors, shareholders' go ahead for proposed merger

7 Jul 2022 , 01:53 PM

Shriram Transport Finance Company Limited (STFC) announced that the proposed merger with Shriram City Union Finance has been approved by equity shareholders, and secured & unsecured creditors.

According to a vote count at the company’s National Company Law Tribunal-convened meeting on 4 July, 97% of the equity shareholders and 99% of the secured and unsecured creditors voted in favour of the deal.

According to the company, the anticipated merger will transform STFC from a pure-play commercial vehicle lending business to a diversified lender with products ranging from two-wheelers to MSME, gold finance, and commercial vehicle lending.

According to the company, the merger of STFC and SCUF will result in Shriram Finance, India’s largest retail non-banking financial company.

The company is now looking forward to the approval from SCUF shareholders and creditors, and NCLT, the Competition Commission of India, and the Insurance Regulatory and Development Authority.

At around 1.58 PM, Shriram Transport Finance was trading at Rs1,283.60 down by Rs0.35 or 0.03% from its previous closing of Rs1,283.95 on the BSE. The scrip hit intraday high and low of Rs1,291.85 and Rs1,259 respectively.

Related Tags

  • Shriram Transport Merger
  • ShriramTransportApproval
  • ShriramTransportNews
  • ShriramTransportShare
  • ShriramTransportShareholderApproval
  • ShriramTransportSharePrice
  • ShriramTransportStock
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.