Shriram Finance Limited is the flagship company of Shriram Group, a diversified group with interests in financial services viz. Commercial vehicle finance, Consumer Finance, life and general insurance, stock broking, chit funds and distribution of financial products such as life and general insurance products and units of mutual funds. The Company is primarily engaged in the business of financing commercial vehicles, passenger vehicles, construction equipment, farm equipment, micro, small and medium enterprises, two-wheelers, gold and personal loans. The Company is a leader in organised financing of pre-owned commercial vehicles and two-wheelers. It has vertically integrated business model and finances passenger vehicles, Construction Equipment, Farm Equipment, MSMEs Gold, Personal loan and Working Capital Loans, among others.
Shriram Finance Limited was incorporated on June 30, 1978 as a Public Limited Company. The Company was formed to provide hire purchase and lease finance for the medium and heavy commercial vehicles. The name of the Company was changed from 'Shriram Transport Finance Company Limited' to 'Shriram Finance Limited' with effect from November 30, 2022.
In year 1993, the Company launched lease Portfolio Management Scheme and managed more than 100 crore of business through this Scheme. In March 1995, the company came out with a rights issue of 64.95 lakh equity shares aggregating Rs 6.49 crore. The issue was to augment long-term resources and working capital and to enhance the leverage ability of the company. In the span of 20 years, the company had fortified their presence in the market, on account of their focused business segment, a wide geographical coverage, an effective credit monitoring and appraisal system, which has resulted in high growth in business and profitability.
During the year 2003-04, the company increased the windmills capacity from 4,450 kwh to 8,650 kwh for producing electricity. During the year 2005-06, the undertaking