Piramal Enterprises today said it will buy a 20 per cent stake in financial-services company Shriram Capital for Rs 2,014 crore.
Shriram Capital is the holding company of Chennai-based Shriram Group, which controls Shriram Transport Finance Co and Shriram City Union Finance.
Piramal had acquired a 9.9 per cent stake in Shriram Transport for Rs 1,636 crore last year.
Shriram Capital's operating units have more than 9 million customers, Mumbai-based Piramal Enterprises, which is controlled by billionaire Ajay Piramal, said in a statement.
Ajay Piramal sold his pharmaceuticals business to Abbott Laboratories for USD 3.8 billion in 2010.
Earlier this month, Piramal Enterprises sold its 11 per cent stake in Vodafone India to Britain's Vodafone Group Plc for Rs 8,900 crore.
