December 21, 2014 1:56 PM ET

Consumer Finance

Company Overview of Shriram Capital Limited

Company Overview

Shriram Capital Limited provides chit fund, transport and equipment finance, and consumer finance services for middle and lower income groups in South India. It offers commercial vehicle finance, enterprise finance, retail stock broking, life insurance, general insurance, financial product distribution, wealth management advisory, and overseas investments services. The company has strategic partnerships with Sanlam and santam. Shriram Capital Limited was formerly known as Shriram Financial Services Holdings Private Limited and changed its name to Shriram Capital Limited in March 2008. The company was incorporated in 1974 and is based in Chennai, India. Shriram Capital Limited operates as a s...

2nd Floor

Shriram House

No.4, Burkit Road

T. Nagar

Chennai,  600 017

India

Founded in 1974

Phone:

91 44 4905 2500

Fax:

91 44 2499 3272

Key Executives for Shriram Capital Limited

Managing Director and Director
Age: 49
Whole Time Director
Age: 56
Compensation as of Fiscal Year 2014.

Shriram Capital Limited Key Developments

Shriram Seeks To Sell 23% Stake In Shriram Capital Limited To Sanlam

Shriram Group Pvt. Co. is planning to sell 23% stake in Shriram Capital Limited to Sanlam Limited (JSE:SLM). As the Cabinet clears Insurance Bill, that is to hike composite Foreign Equity Cap to 49%, the INR 60 billion Shriram Capital are gearing up to dilute 23% stake each to Sanlam. "If Regulations are changed to increase the limit placed on foreign ownership of insurance companies, SEM will consider increasing its effective stake in the Shriram insurance businesses. This may be achieved through a combination of an increased stake in Shriram Capital Limited and/or direct stakes in the Shriram insurance businesses," said Sanlam in an email response. On the benefits for Shriram, he said, "the company is not in need of capital, the stake dilution is to meet our obligation and what we have committed to Sanlam," Jain.

Shriram Capital Limited Appoints Ajay G. Piramal as Non-Executive Chairman

Mr. Ajay G. Piramal, Chairman of Piramal Enterprises Limited, has been appointed as the non-executive chairman of Shriram Capital Limited at its Board Meeting held on November 15, 2014.

Shriram Capital Mulls Acquisitions

Shriram Capital Limited intends to pursue acquisitions. The company will now be looking at acquiring a company in other Asian markets, Shriram Group Director G S Sundararajan told PTI. He said investment in the overseas market will be made along with the insurance partner Sanlam. “Because of our proximity to the Asian markets, Sanlam has decided that they will go to other Asian market with us.” The company will be looking at countries like Indonesia, Vietnam, Sri Lanka, Myanmar, and the plans will be finalized in the next few months, he said. “We have a housing finance company and if we have an acquisition opportunity in the housing sector which is consistent with our culture then we may look at it,” Sundararajan added.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 5, 2014
--
Merger/Acquisition
April 17, 2014
--
 

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