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Piramal buys 20% stake in Shriram Capital for Rs 2,014 crore

New Delhi: Piramal Enterprises has said it will buy a 20 per cent stake in financial-services company Shriram Capital for Rs 2,014 crore.Shriram Capital is the holding company of Chennai-based Shriram Group, which controls Shriram

PTI [ Updated: April 17, 2014 14:50 IST ]
piramal buys 20 stake in shriram capital for rs 2 014 crore
piramal buys 20 stake in shriram capital for rs 2 014 crore

New Delhi: Piramal Enterprises has said it will buy a 20 per cent stake in financial-services company Shriram Capital for Rs 2,014 crore.


Shriram Capital is the holding company of Chennai-based Shriram Group, which controls Shriram Transport Finance Co and Shriram City Union Finance.

Piramal had acquired a 9.9 per cent stake in Shriram Transport for Rs 1,636 crore last year.

Shriram Capital's operating units have more than 9 million customers, Mumbai-based Piramal Enterprises, which is controlled by billionaire Ajay Piramal, said in a statement.

Ajay Piramal sold his pharmaceuticals business to Abbott Laboratories for $3.8 billion in 2010.

Earlier this month, Piramal Enterprises sold its 11 per cent stake in Vodafone India to Britain's Vodafone Group Plc for Rs 8,900 crore.

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