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No decision on merging Shriram City and Shriram Transport Finance, says R Thyagarajan

Updated : July 11, 2018 12:23:21 IST

R Thyagarajan, founder of Shriram Group, on Wednesday said that company has not reached any conclusion on merging Shriram City Union Finance and Shriram Transport Finance, after news emerged that the two non-banking financial firms are in early stages of discussion for merger.

However, the company is looking at possibility of merging similar businesses for the last five years, Thyagarajan said.

In an exclusive interview to CNBC-TV18, Thyagarajan clarified on Shriram Transport Finance's Rs 870 crore exposure to Shriram Venture Limited (SVL), says unlisted group entity cannot be considered to be a group company of the Shriram Group.

"Some years back, we decided that we will separate the activities of the manufacturing companies, the non-financial companies from the financial group companies and that has been quite a few years back," he added.

Thyagarajan said that Shriram Group will do what is best for shareholders of all entities and concerns will be taken on board very seriously.
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