Shriram Group plans to raise ₹2,000-2,400 crore in debt to buy Piramal Enterprises stake in Shriram Investment Holdings. Piramal Enterprises fully exits Shriram Group after selling its stake in Shriram Finance.
In a regulatory filing, the company said the sale is part of its strategy to monetise non-core assets, adding the proceeds will strengthen its balance sheet. The transaction is subject to Shriram Ownership Trust obtaining regulatory approvals and expected to be completed by March 31
In a regulatory filing, the company said the sale is part of its strategy to monetise non-core assets, adding the proceeds will strengthen its balance sheet. The transaction is subject to Shriram Ownership Trust obtaining regulatory approvals and expected to be completed by March 31
The Ajay Piramal-led Piramal Enterprises Ltd has sold its entire 8.34% stake in Shriram Finance Limited to third-party investors in a bulk deal, reportedly priced at Rs1,483 per share. This follows a day after US private equity TPG sold its entire 2.65% stake in Shriram Finance.