Shriram City Union Finance Limited (Shriram City) is part of the three decade-old Shriram Group. As a deposit-accepting non-banking financial company (NBFC), Shriram City is today India’s premier financial services company specializing in retail finance.
The Consumer Finance business of the group had its origins from the needs of the Chit Funds customers and was started in year 2002 as a separate business unit, Shriram City Union Finance Ltd.
Shriram City has a comprehensive range of offerings comprising finance for Two Wheelers and Three Wheelers, Four Wheeler Finance (both new and pre-owned passenger and commercial vehicles), Personal Loans, Small Business Loans, and Loan against Gold. This has made Shriram City a dominant player in the field and the only NBFC to offer such a wide range of products under one roof.
The stock closed at Rs. 1,717.60/- (up almost 4% while over 25 lakhs shares were traded yesterday alone of which 83.4% were delivery).
Steadview Capital sold 2,109,788 shares representing 3.21% of the share capital at a valuation of Rs. 343.90 crores.
Steadview is headed by Ravi Mehta, who cut his teeth as an Asia analyst for ex-Tiger Cub Lee Ainslie’s Maverick Capital. Steadview is an investment fund focused on Asia, investing in both public and private equity. Steadview Capital is an investor in Flipkart and Ola.
LTR Focus Fund and Steadview Capital Mauritius are both part of the Steadview Capital Hong Kong.
Part of this stake was purchased by
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