Sundaram Finance has received an approval for demerger of non-financial services investments of the company into a wholly owned subsidiary (WOS), Sundaram Finance Investments (SFIL). The board of director at its meeting held on February 17, 2017 has approved for the same. Following the demerger, SFIL would be listed on the stock exchange, subject to necessary approvals from regulators and shareholders.
Sundaram Finance, headquartered in Chennai, is a leading player in Retail Finance with presence across multiple facets of the Financial Services industry including Vehicle Finance, Home Finance, Mutual Fund, General Insurance and Financial Services Distribution.