The RBI’s approval, communicated through a letter dated April 1, 2025, also includes the appointment of Umesh Revankar, Executive Vice Chairman, and Parag Sharma, Managing Director & CFO, as Directors on SOIPL’s board.
Last year, the company informed stock exchanges that its Board of Directors had approved the acquisition proposal during a meeting on April 26, 2024, subject to regulatory clearance.
“We inform you that today, i.e., April 1, 2025, the RBI… has conveyed its approval for the 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 the conditions specified therein,” the filing stated.
On Tuesday, Shriram Finance shares closed at ₹637.85 per share on the NSE, marking a 2.77% decline from the previous close.
The company expects its assets under management (AUM) to exceed ₹3 lakh crore in the financial year 2026 (FY26), supported by an anticipated 15% loan growth, according to Executive Vice Chairman Umesh Revankar.
“We expect 15% credit growth for FY26 if the GDP grows at 6.5%. Typically, loan growth is more than twice the GDP growth. The higher the GDP growth, the greater the demand for loans,” Revankar told PTI.
