Shriram Finance consolidate green finance biz under Shriram Green Finance

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Shriram Finance consolidate green finance biz under Shriram Green Finance

Building on its existing expertise in financing electric vehicles, Shriram Green Finance will provide sharper focus and clarity to its sustainability efforts


Shriram Finance on Monday announced the consolidation of its green financing initiatives under Shriram Green Finance to grow and expand beyond electric vehicle (EV) financing. Additionally, the company has set a target for assets under management (AUM) of Rs 5,000 crore for the vertical over the next 3–4 years.
 
In a statement, the company said, “Shriram Green Finance will initially focus on building the EV portfolio across India, with an initial focus on Karnataka, Kerala, the National Capital Region (NCR), and Maharashtra. Shriram Finance is actively engaging with original equipment manufacturers (OEMs) manufacturing EVs to establish long-term partnerships, ensuring seamless and accessible vehicle financing solutions.”
seamless and accessible vehicle financing solutions.”

Shriram Finance Ltd

Last Updated: Dec 20 2024 | 03:43 PM IST

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Building on its existing expertise in financing electric vehicles, Shriram Green Finance will provide sharper focus and clarity to its sustainability efforts. It consolidates the green finance business with a vision to build a robust green finance portfolio through financing EVs, battery charging stations, renewable energy products and solutions, energy-efficient machinery, and more.
 
By leveraging its extensive customer base, particularly in semi-urban and rural areas, Shriram Finance has the potential to play a transformative role in green financing.
 
Umesh Revankar, executive vice chairman, Shriram Finance, said, “… This initiative is a testament to aligning our strategies with the global shift toward a greener economy, and we are charting a course for long-term value creation that balances profitability with purpose.”

The company will raise global and domestic funds focused on green investments for onward lending to its constituency.
 
The growth in India’s renewable energy sector over the past decade, driven by government initiatives and a focus on sustainability, provides an opportunity for Shriram Finance to grow.
 
India's EV sector is undergoing rapid expansion, driven by ambitious government policies, technological advancements, and growing environmental awareness. The EV sales and charging infrastructure sector is also growing rapidly, with fast-charging and battery-swapping technologies being prioritised to enhance convenience.  
Mirae Asset MF’s AUM crosses Rs 2 trn mark 
Mirae Asset Investment Managers (India) on Friday announced that its mutual fund (MF) assets under management (AUM) has crossed the Rs 2 trillion mark on the back of 54 per cent compound annual growth rate (CAGR) in the past five years. The fund house is ninth in the MF industry to achieve the milestone. "This is thanks to the increase in client addition as the folios count has surpassed 6.8 million and Mirae Asset has a monthly SIP book of  Rs 865 crore," the fund house said. 

“We believe India may be one of the biggest growth stories of this decade, and as an asset manager we aim to be an integral part of this growth journey by providing innovative products,” said Swarup Anand Mohanty, Vice Chairman & CEO, Mirae Asset Investment Managers (India).  

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