RBI grants approval to Shriram Finance to acquire 100% stake in Shriram Overseas Investments Pvt Ltd
The Company had disclosed to the stock exchanges on April 26, 2024 regarding the outcome of Board Meeting of the Company held on April 26, 2024.
Shriram Finance Ltd has secured approval from Reserve Bank of India for the acquisition of 100% equity stake in Shriram Overseas Investments Private Limited from Shriram Investments Holdings Private Limited.
The Company had disclosed to the stock exchanges on April 26, 2024 regarding the outcome of Board Meeting of the Company held on April 26, 2024.
As a part of the disclosure, we had informed that the Board of Directors of the Company at their meeting had inter-alia, considered and approved the proposal for acquisition of 100% equity stake in Shriram Overseas Investments Private Limited (“SOIPL”) from Shriram Investments Holdings Private Limited (“SIHPL”), subject to approval of Reserve Bank of India (“RBI”), the company stated in an exchange filing.
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The filing added that the RBI vide its letter (bearing reference no. CHN.DOR.NRO.No.S1/05.01.001/2025-2026) dated April 1, 2025 had conveyed its approval for acquisition of 100% shareholding in SOIPL by the Company and the appointment of Mr. Umesh Revankar, Executive Vice Chairman and Mr. Parag Sharma, Managing Director & CFO of the Company as Directors on the board of SOIPL, subject to compliance with conditions specified therein.
Shares of the Shriram Finance Ltd are trading down by 0.13% at Rs 636.60.
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