Shriram Automall to open 20 facilities this fiscal year.

Shriram Automall India Ltd. (SAMIL) will roll out 20 automall facilities across the country this fiscal, said Sameer Malhotra, CEO.

Through an automall facility, the company, a 100 per cent subsidiary of Shriram Transport Finance, provides a platform for buyers and sellers to transact in used vehicles - commercial vehicles, cars, tractors and also two-wheelers.

'This automall will be for both used cars and commercial vehicles. We have about 4.5 acres in Narela. We are also going close to our customers,' Malhotra said. Plans are afoot to launch automalls this fiscal in Kanpur, Lucknow, Nagpur, Guwahati, Patna, Ranchi, Karnal, Jodhpur, Shimla, Thrissur and Vijayawada, he added.

SAMIL has no immediate plan to list the company's equity shares in a stock exchange, he said. 'The company has no current requirement for any capital funds.'

HBL