Shriram Finance Limited on April 15 informed exchanges that its wholly owned subsidiary, Shriram Overseas Investments Limited, has received in-principle approval from the Reserve Bank of India (RBI) to commence Primary Dealer (PD) business.
The development comes as part of an earlier intimation dated March 12, 2026, with the company now confirming that the approval was received on April 15, 2026, subject to compliance with conditions specified by the central bank.
Primary Dealers play a key role in India’s government securities market, acting as intermediaries between the RBI and the broader financial system. They are involved in underwriting government bonds and facilitating liquidity in the debt market, making this approval strategically important for Shriram’s financial services ecosystem.
The company stated that the approval is conditional and the subsidiary will proceed with the required compliance before commencing operations in the segment.
Meanwhile, Shriram Finance shares were trading at ₹1,023.80, up ₹19.70 or 1.96%, during the afternoon session on April 15, according to market data. The stock touched an intraday high of ₹1,043.50 and a low of ₹1,022.60.
It is important to note that the stock movement is not linked to this development, as the disclosure was made later in the day and any price action prior to that may be driven by broader market trends or other factors.
The update reflects Shriram Finance’s continued efforts to expand its presence across financial market segments, particularly in fixed income and government securities.