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Shriram Irivestments, based in

,

Chennai; Shriram Overseas Finance, from Delhi; and scur in Kolkata' Each had a regional sPread. "When

private equitY PlaYer ChrYsCaPital invested {100 crore equitY in Shriram's NBFCs, 'le agreed to merge all companies into sTFC. While the

first three were merged lock, stock and barrel, onlY the business oI SCUF was taken over bY S't'i:C, while the company (scur) started a consumer finance business. This was the restructuring done by the Sroup in 2005, Post the investment bY
ChrysCaPital," exPlains Sridhar. Other Private equity PlaYers were quick to sit uP and recognise these changes. TPG first invested in S'I'FC,

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behaviour is usually excellent. It is an earning asset and the industry is usually a lightning rod for economic activity," explains V. Vaidyanathan, MD, Future CaPital, who built a large new commercial vehicle rrnancing business at ICICI Bank and is currently watching the sPace.

a great

business, where rePaYment

HEN DUGGAL came on board, the landscape

in the Indian

financial seqtor

.was

also undergoing a change, and the Shriram group undertook a -maior restructuring. Prior to this, the group operated through four NsFCs - STFC, headqtiartered in Mumbai;

then in 56gP, Shriram CaPital ancl Shriram Properties. 'l'he total investment by l'PG in the grouP is over $500 million. "We have had a great partnershiP built on mutual trust, ind we have both worked hard to preserve the goodwill, enhancing the level of engagement. The SrouP is enlighterred and embodies the true spirit of partnership, entrepreneurship and providing alltonomy to the management team, which is rare irl Indian culture. The group has a philosophy of generating wealth and sharing it with the senior management team," exPlains Puneet llhatia, MD, TPG Capital India. By any indicator, the demand for CVs is expected to continue a north bound iourney. "'l he cv industrY is

ciirectly cleperlcielrt tltt tlvtlllll cctlr-ionric growth on ()11e hantl and investments in road trallsllort sector under the Five Year l)latls Over titrte, lve expect tl-ie org;rrtist'tl lllavers such as Shrirarll 1o Ile ltt'ttl Itclttt tltese investlneltls," .ttl'l' I p1''11 oI HsilC. There is a direct c()ir(''latioll betrveen the growth tll'lilt; c(1)llol'nv ancl the developrnellt oi t.oittls lrl the last terv years, lvith the lol itl.'r t locking good Srowth rate, alircit lr'it1'r some recent speed llrc'iikcrs, llrc iatttr also cxpcctcd t. \i r' l'r'rl' rl ilrllirstructLlrc spending. All t ll is ltLtgttrs n'eil for the Shriranr group Witl't the core lvell constructecl, srrcccss is bound to follow . r,\\(.r:rr) Ji,\L,H