In a bid to become a strategic investor in Shriram Group, Piramal Enterprises is planning to acquire 20 percent stake in Shriram Capital in three-four months.
In May last year, Piramal had bought about 10 percent stake in Shriram Transport Finance Co for Rs 1,652 crore. Shriram Transport Finance is the commercial vehicle financing arm of the Chennai-based Shriram Capital, the holding company for the financial services and insurance entities of Shriram Group.
Recently, Vodafone Group Plc was planning to buy out Piramal Enterprises’ stake in Vodafone India. The move came in after Foreign Investment Promotion Board (FIPB) approved Vodafone’s proposal to buy out minority shareholders.
Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and information management sectors.
In May last year, Piramal had bought about 10 percent stake in Shriram Transport Finance Co for Rs 1,652 crore. Shriram Transport Finance is the commercial vehicle financing arm of the Chennai-based Shriram Capital, the holding company for the financial services and insurance entities of Shriram Group.
Recently, Vodafone Group Plc was planning to buy out Piramal Enterprises’ stake in Vodafone India. The move came in after Foreign Investment Promotion Board (FIPB) approved Vodafone’s proposal to buy out minority shareholders.
Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and information management sectors.
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