Piramal Enterprises sells 20% in Shriram Investment for Rs 1,440 crore

Piramal Enterprises has sold its entire investment of 20 per cent in Shriram Investment Holdings Private (formerly known as Shriram Investment Holdings) to Shriram Ownership Trust (SOT) for a consideration of Rs 1,440 crore.

“This transaction is aligned with our focus on monetising non-core assets. The proceeds will further strengthen our balance sheet,” the company said in a statement.

SOT is the promoter of Shriram Capital Private Limited, which is the overarching holding company of Shriram Group. Shriram Group offers a wide range of financial products in commercial vehicle financing, retail financing, chit funds, housing finance, life insurance, general insurance, stockbroking, distribution of financial products, and wealth advisory through its entities.