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Piramal Enterprises sells 20% in Shriram Funding for Rs 1,440 crore Specific Occasions

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Piramal Enterprises has offered its total funding of 20 per cent in Shriram Funding Holdings Non-public (previously often called Shriram Funding Holdings) to Shriram Possession Belief (SOT) for a consideration of Rs 1,440 crore.

“This transaction is aligned with our give attention to monetising non-core belongings. The proceeds will additional strengthen our stability sheet,” the corporate mentioned in a press release.

SOT is the promoter of Shriram Capital Non-public Restricted, which is the overarching holding firm of Shriram Group. Shriram Group gives a variety of monetary merchandise in business car financing, retail financing, chit funds, housing finance, life insurance coverage, common insurance coverage, stockbroking, distribution of monetary merchandise, and wealth advisory via its entities.

First Revealed: Jan 28 2024 | 10:42 PM IST

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