The company was originally promoted by the Shriram Group of hire
Purchase companies in the year 1986 under the name of Shriram Hire
Purchase Finance Limited. In March 1990 City Union Bank Limited
acquired shareholding to the extent of Rs. 20 lacs (200,000 shares at
par) after obtaining the necessary approvals from the Reserve Bank of
India. Consequently the name of the company was changed to Shriram
City Union Finance Limited. At preseent City Union Bank holds Rs. 40
lacs by way of equity representing 10 % of the present paid up capital
of the company. Subsequently in January 1991 and in October 1992
Advisory Services Ltd. and Integrated Enterprises (India) Ltd,
acquire holdings in the company aggregating to Rs. 75 lacs and Rs. 20
lacs respectively. The total holding of the Integrated Group as on
dated stands at Rs. 230 lacs which is equivalent to 57.50% of the
present paid up capital of the company. Presently even though
Shriram City Union Finaance Ltd is a subsidary of the Integrated
Group the day to day management still remains with the Shriram Group.
After the public issue the shareholding of the Integrated Group will
be 38.33% and that of City Union Bank at 6.67% and that of M/s
Shriram Investments Ltd. at 6.67%.
The Company is at present engaged in Hire Purchase and Lease
Financing of heavy and medium Commercial Vehicles, and proposes to
expand further predominantly into this segment of financing with the
augmentation of its resources and other related financial services in
the coming years as envisaged in the expansion programme of the
company. The Company commenced its operation in the year 1986 with a
share capital of Rs. 27.00 lacs. It has gradually increased its
activity levels and the paid up capital of the Company as of now
stands at Rs. 400 lacs. The total funds employed by the Company as on
31st March, 1994 is around Rs. 3693.00 Lacs.
-The company has allotted, 196,00,000 Equity shares of Rs 10/- each
for cash at Rs 15.35 per share (including a premium of Rs 5.35 per
share) to Shriram Chits & Investments Private Ltd on preferential
- Shriram City Union Finance Ltd has appointed Sri. Arun Duggal as
Additional Director of the Company at the Board Meeting held on May
25, 2007. He has also been appointed as the Chairman of the Company.
-Shriram City Union Finance Limited has informed that i) Sri V
Parathasarathi, ii)Sri Mukund Govind Diwan, iii) Sri Vipen Kapur have
been inducted as Additional Directors of the Company at the Board
Meeting held on 15th June, 2007.
- Shriram City Union Finance Ltd has appointed Sri. G. S.
Sundararajan as an Additional Director of the Company w.e.f. December
31, 2009 by a resolution passed by circulation.
-Sri. Venkataraman Murali have been inducted as Additional Directors
of the Company.
-Shriram City Union has recommended a final dividend of Rs. 4 per
equity share (40%).