Personal chemistry sealed Piramal's investment in Shriram

When Ajay Piramal decided to invest in the Shriram group in 2010-11, it was not a smooth process; there was, in fact, even a decision not to go ahead with the deal. Piramal then could not have imagined himself taking over as chairman of Shriram's finance business and, eventually, a possible merger with IDFC Bank. In the event, Piramal invested over Rs 4,400 crore in Shriram Capital, the holding company of Shriram City Union and Shriram Transport Finance.

The Shriram group's founder, R Thyagarajan, released a book ''I am not an entrepreneur'': The R. Thyagarajan Story, in November 2016 recalling