The tie-up would focus on financing of entry level cars from Maruti portfolio, which include the M800, Omni and Alto models, the company said.
MSIL chief general manager (sales) R. S. Kalsi said the tie-up with Shriram Group was a step towards providing transparent, hassle-free finance options to the company’s countryside customers.
“At the onset of this association, we have allocated Rs1,000 crore for four-wheeler financing,” Shriram City executive director Subhasri Sriram said.
Initially, this arrangement would be available in Kerala, Karnataka, Tamil Nadu and Andhra Pradesh and subsequently extended countrywide, the statement added. PTI
M&A deal volumes touch $2.9 bn in Feb
New Delhi: Private sector lender HDFC Bank Ltd’s merger with Centurion Bank of Punjab Ltd (CBoP) has driven merger and acquisition (M&A) deal volumes in the country to $2.9 billion (Rs11,803 crore) in February this year.
The number of M&A deals announced in the month stood at 36. The most significant deal was the merger of HDFC Bank and CBoP, global consultancy firm Grant Thornton International Ltd said.
The other significant deal was the acquisition of 17.2% stake by Walt Disney Co. in UTV Software Communications Ltd for consolidating its stake to 32.10% in the domestic media company.
In January this year, the total number of M&A deals announced stood at 56, with a total announced value of $3.01 billion. PTI