Shriram Capital Ltd (SCL) and Shriram City Union Finance (SCUF) will merge with Shriram Transport Finance Company (STFC) as part of restructuring in Shriram Group.
The new entity, which will be the largest retail non-banking financial company (NBFC) in India, will be named Shriram Finance Ltd (SFL).
The merger, which will lead to a simplified corporate structure, is expected to pave the way for the exit of investors like Ajay Piramal. Piramal, who holds 20 per cent in SCL and 9.96 per cent in SCUF, will hold 8.37 per cent in the merged entity, Shriram Finance.
The less complex structure may attract fresh