After 6 years in Shriram, Piramal spends 6 months looking for exit

Thyagarajan says there won't be any vacuum as every firm has independent management

In the summer of 2013, Piramal group’s then 57-year-old chairman announced acquisition of 10 per cent stake in Shriram Transport Finance Company. Within months, Ajay Piramal’s flagship firm, Piramal Enterprises, purchased minority stakes in two more Shriram group firms, taking his total investments in the group firms to Rs 4,500 crore.
 
It was a precursor to take over Shriram group of firms as its founder chairman, R Thyagarajan, did not have a clear succession plan — this to the extent that he had kept his family members from joining his finance businesses. It was a win-win deal for both,