Page 2 - Shriram

CCI approves proposed amalgamation involving Shriram Group entities

Fair trade regulator CCI on Tuesday cleared the proposed combination involving the merger of various entities of the Shriram Group. The proposed combination relates to the amalgamation of Shriram GI Holdings Pvt Ltd with Shriram General Insurance Company Ltd. Shriram General Insurance Company is a joint venture between Shriram Capital and Sanlam Ltd (South Africa). It is an Irdai-licensed company, offering a wide range of general insurance solutions. "CCI approves the proposed amalgamation of Shriram GI Holdings Private Limited with Shriram General Insurance Company Limited," the regulator said in a post on social media platform X. The competition watchdog also granted its approval to the proposal for the merger of Shriram LI Holdings Pvt Ltd with Shriram Life Insurance Company Ltd. Shriram Life Insurance Company is jointly promoted by Shriram Group and South Africa-based financial services firm Sanlam Group. The Shriram Group is one of the largest and well-respected financial ..

Shriram AMC to launch multi asset allocation fund, NFO to open on Friday

Additionally, the fund will allocate 10 to 25 per cent of its assets in high-quality (AAA) Short to Medium term debt

Shriram stake sale helps Piramal Enterprises report Rs 509 crore profit

A one-time gain of Rs 855 crore from the sale of its stake in Shriram Finance helped Piramal Enterprises report Rs 509 crore consolidated net profit for the April-June quarter, barring which it would have been in deep red, according to a company statement. In the June 2022 quarter, the company booked a net profit of Rs 8,155 crore. And in the reporting quarter the same printed in at Rs 509 crore led by a gain of Rs 855 crore from the sale of its 8.34 per cent stake in Shriram Finance for Rs 4,820 crore, the company said in a statement. Chairman Ajay Piramal also announced a buyback of up to 1.4 crore equity shares, representing 5.87 per cent of the pre-buyback fully paid-up equity at Rs 1,250 a share, aggregating to Rs 1,750 crore, through the tender offer route. And the entire process is expected to be completed within 2 months. He further said the promoter and promoter group shall not participate in the buyback. The Rs 1250 a share offer is a premium of 25 per cent over the last .

Shriram Finance expects strong growth in construction, farm equipment in Q2

The increase could be due to the government's rising infrastructure spending and favourable monsoon conditions, a company executive said on Thursday

Shriram Finance reports 26.6% jump in Q1 net profit at Rs 1,712.19 cr

Shriram Finance Ltd, the flagship company of diversified conglomerate Shriram Group, on Thursday reported a 26.6 per cent jump in its consolidated net profits for the April-June 2023 quarter at Rs 1712.19 crore, the company said. The company registered a consolidated net profit at Rs 1,351.62 crore during the corresponding quarter of last year. For the year ending March 31, 2023, the consolidated net profit was Rs 6,020.03 crore. The consolidated total income during the quarter under review grew to Rs 8,292.53 crore from Rs 7,138.25 crore registered a year ago. For the year ending March 31, 2023, the consolidated total income was at Rs 30,508.39 crore. In a statement, the company said its consolidated Net Interest Income for the quarter increased to Rs 4,576.61 crore as against Rs 4,044.42 crore registered in the same period of last year. The consolidated EPS (earnings per share) Basic increased by 26.12 per cent and stood at Rs 45.53 as compared to Rs 36.10 recorded in the same

Shriram Finance's long-term prospects intact as merger synergies play out

With one-off costs behind it, performance of NBFC should improve as merger synergies play out

Shriram Finance, Piramal Enterprises zoom 10% after huge block deals

According to media reports, Piramal Enterprises was planning to sell its entire 8.34 per cent stake in Shriram Finance via block deals on Wednesday.

TPG sells stake in Shriram Finance for Rs 1,400 cr, Piramal to follow suit

Shriram Finance last year became India's largest non-bank lender after merger of units

Shriram AMC zooms 73% in 3 days post appointment of Kartik Jain as MD & CEO

The company said Jain's appointment as MD and CEO will re-orient the brand's customer strategy and enhance operational efficiency

Prospects remain healthy for NBFCs, bank credit shows a strong trend

Topline growth should outweigh any pressure on margins

Shriram Finance turns India's largest retail NBFC after merger: Group

The company has net worth of Rs 40,900 crore and assets under management of Rs 1,71,000 crore

Shriram Financial Ventures to be holding company in Shriram Group recast

SCL, the existing holding company of the Group, and Shriram City Union Finance will merge shortly with Shriram Transport Finance

Shriram Finance to enter supply chain lending, trade finance biz

One is discounting invoices on the technology platform as the group is already into small and medium enterprises financing

Shriram Automall India partners Daimler India for used vehicle sales

Pre-owned vehicles and equipment marketplace Shriram Automall India Ltd (SAMIL) on Monday said it has entered into a strategic partnership with Daimler India Commercial Vehicles (DICV) to expand its used vehicle exchange business in commercial vehicle (CV) space. Under the partnership, SAMIL will provide its online-offline auction platforms to facilitate quick sale of used commercial trade-in vehicles to individuals approaching dealers of BharatBenz, a brand of DICV, and purchase new DICV vehicles, the company said in a statement. SAMIL CEO Sameer Malhotra said, "We are confident that this association will benefit both sides. Our platform has the capability to serve more players like DICV and make the trade in processes easier for them, thus freeing them to focus on their core competency while we focus on ours." DICV Vice President, Marketing & Sales, Customer Service Rajaram Krishnamurthy said the tie-up with Shriram Automall will provide ease of accessibility to pre-owned ...

Shriram Capital closes in on a merger deal with two lending units

Unlisted Shriram Capital is in the process of firming up the amalgamation with Shriram Transport Finance Co and Shriram City Union Finance Ltd

Shriram General Insurance expects Rs 750 cr underwriting profit this year

Jaipur-based Shriram General Insurance, which is primarily into motor insurance with over 90 per cent of the business coming in from this vertical, is expecting around Rs 750 crore underwriting profit this fiscal as its expects gross written premium income to touch Rs 2,200-2,300 crore. The Chennai-based Shriram Group firm has closed H1 of the fiscal with around Rs 800 crore in premium income and expects it to nearly treble in the second half on the back of the better-than-expected economic recovery, says Anil Aggarwal, the managing director & chief executive of Shriram General that was the first general insurer to underwrite only motor premia when it began 13 years ago. Shriram General Insurance, which manages Rs 10,500 crore of AUM which it expects to cross Rs 50,000 crore over the next five years, is a joint venture between Shriram Capital, the group holding company, and the South African financial services group Sanlam, and was set up in 2009. Today it's the seventh largest ...

Coffee Day Enterprises to sell 85.53% stake in Way2Wealth to Shriram Credit

Enterprise value of the business being pegged at Rs 65 crore

Personal chemistry sealed Piramal's investment in Shriram

Piramal then could not have imagined himself taking over as chairman of Shriram's finance business

Better times ahead for Shriram Transport Finance

Improving sales, good monsoon to boost earnings and return ratios