Indias largest retail NBFC plans to double its loan book in 3 years. Do you own it?
The company informed the exchange that they plan to double its loan book in 3 years in Uttar Pradesh driven by focus on MSME loans
On Monday, shares of Shriram Finance rallied more than 2.3 per cent to make an intraday high of Rs 1325.
The company informed the exchange that they plan to double its loan book in 3 years in Uttar Pradesh driven by focus on MSME loans. As of September 2022, the company’s Assets Under Management (AUM) stood at Rs 10,770 crore and with this plan, the company looks to expand the AUM to over Rs 20,000 crore in 3 years in UP.
The growth strategy will be focused on growing the MSME loan book since UP has the largest number of MSMEs registered and the opportunity to provide finance to MSMEs in the state is significant. The company has also had tremendous success in financing 80,000 two-wheelers in Oct-Dec 2022 in Uttar Pradesh and the majority of their customers are self-employed. UP is the largest market for 2-wheeler sales compared to other states in 2022 and Shriram Finance has a leadership position in the state.
Shriram Finance Limited is India’s largest retail asset financing Non-Banking Finance Company (NBFC) with Assets under Management (AUM) of Rs. 1.71 trillion. Recently, Shriram City Union Finance Limited and Shriram Capital Limited merged with Shriram Transport Finance Company Limited and was subsequently renamed Shriram Finance Limited. The Company is a leader in organised financing of pre-owned commercial vehicles and two-wheelers.
Keep a close eye on this trending NBFC Company.