Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

’Shriram Group and IDFC have lot of synergies’

Author: IANS/Tuesday, July 11, 2017/Categories: Banking & Financial Services

’Shriram Group and IDFC have lot of synergies’

Mumbai (IANS) - Explaining the objective of the proposed merger between the financial services majors Shriram Group and IDFC Group, Shriram Group Chairman Ajay Piramal on July 10 said both the organisations have lot of complementarities.

Two groups had already announced that the boards of Shriram Group and IDFC entered into an exclusivity arrangement for 90 days to jointly explore the possibility of a merger.

"If you look at it, both the organisations have lot of complementarities in what they are doing. Shriram Group is strongly present in retail segment while IDFC is strong as far as the wholesale is concerned. Both the groups want to deliver to the customer something which was not done before," Piramal told BTVi in an interview.

He said the Group is serving millions of customers who till now had not been any banking experience while the products and the services which IDFC brings in to that will be unique. 

Asked on the rationale for keeping Shriram Transport out of the proposed merger, IDFC Bank's MD and CEO Rajiv Lall told BTVi: "The relative sizes of the Shriram Transport and the bank are such that combining the two at once would have created difficult challenges, both regulatory and financial point of view."

According to Lall, Shriram Transport will operate as an independent NBFC. 

Print Rate this article:
No rating

Number of views (289)/Comments (0)

S Vijaykrishnan
S Vijaykrishnan

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free