Piramal to exit Shriram Fin, sell 8.3% stake for ₹4.6k cr

Piramal Enterprises, which last year acquired a non-banking finance company (NBFC) licence. 

Is selling its entire 8.34% holding in Shriram Finance through block deals on Wednesday.

At a floor price of Rs 1,483 per share, Piramal Enterprises will get at least Rs 4,630 crore (about $564 million) from this sale.

The term sheet for the deal showed

In 2013, Piramal Enterprises had bought a 9.9% stake in Shriram Transport Finance 

A 20% stake in Shriram Capital the following year and 9.9% in Shriram City Union in 2018.