Leading non-banking financial company (NBFC) Shriram Finance on Friday said Japan-based MUFG Bank would invest Rs 39,618 crore, or $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.
'It will support our growth aspirations. It's very positive as it helps expand the market in a segment that really needs it.'
This low-profile group has a knack for spotting people with an entrepreneurial streak and backing them profitably.
A development finance company based in Netherlands, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden on Tuesday acquired 3.95 per cent equity in two principal truck-financing companies of the Shriram Group for around Rs 12 crore (Rs 12
The Chennai-based Shriram Group is likely to take over the cash-strapped front-end retail company of Vishal Retail Ltd, after leading private equity investor Texas Pacific Group takes charge of its wholesale division. This will be subject to approval from all stakeholders and regulators.
'Earlier, our cost of funds was higher than most in the peer group.'
'I am very happy to see that the work is starting to bear some fruit now.'
'We are expected to grow at above 28 per cent this year, higher than the industry.'
'In life insurance, it is about creating distribution capacity and solutions for customers. We are constantly working on that.'
Shriram Group and US-based TPG Capital, the global buyout arm of the leading global private equity investment firm, announced a definitive agreement in which TPG will invest up to $120 million (Rs 530 crore) to acquire a stake of up to 49 per cent in Shriram Retail Holdings Private Limited, the holding company of Shriram City Union Finance Limited.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
It has lined up formidable product line.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
Japanese auto major Honda has changed the name of its Indian operations to Honda Cars India Ltd following the break up of its joint venture with Usha International of the Shriram Group.
A host of companies started the ground work for their banking play.
Beleaguered discount chain Vishal Retail on Monday said it would sell its retail trading business to Chennai-based Shriram Group, and the wholesale division to the private equity firm TPG, for a combined value of Rs 100 crore (Rs 1 billion).
Vacancies for management students in Maharashtra.
Union Finance Minister P Chidambaram on Saturday asked software graduates to give importance to communication skills in English besides a good technical knowledge as premier companies like Infosys looked for students with ability to communicate in English well.
Insurance Regulatory and Development Authority (IRDA) on Thursday said ten new players have applied for licences to enter into this fast growing sector.The Shriram group, Ranbaxy-promoted Religare Securities and real estate major DLF, have sought regulatory approval for entering the insurance sector, Muralidharan said.
'And the top 10 per cent will grow because they have to serve the market.'
Shriram Life Insurance has secured licence from insurance regulator IRDA for starting operations in the country.
Shriram Group of Companies, the major partner in the joint venture company New Horizons India Ltd, may sell up to 20 per cent of its 80 per cent stake to institutional investors in the next six months.
Real estate will prosper, small developers won't.
With the July 1 deadline to apply for bank licence fast approaching, aspirants are scrambling to meet the Reserve Bank of India's (RBI) eligibility criteria to apply.
The Reserve Bank of India (RBI) raised the minimum capital requirement for so-called shadow banks and tightened rules on deposits and bad loans to avoid any potential risk to the economy from these rapidly growing finance firms by regulating them like traditional banks.
Piramal Enterprises has about Rs 10,000 crore (Rs 100 billion) cash on its books.
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Reliance, Birla Group, Airtel eye small finance banks.
Nifty crosses 9,750-mark; Bharti Airtel, TCS, Wipro, Lupin and Coal India gained the most on BSE Sensex
A lump sum of Rs 100,000 has been offered under the VRS package.
Licence winners are expected to be announced by the first quarter of 2014.
Biggest contribution came from Bharti group-led Satya Electoral Trust.
'Today, three areas give banks a big headache -- steel, power, infrastructure.' 'Three Cs are very critical in lending -- character, capacity and collateral of the borrower.'
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