Piramal Enterprises picks up 9.99% stake in SCUF

Company had recently announced plans to acquire stake in SCUF by investing around 790 cr

Piramal Enterprises Ltd has picked up 9.99% equity share of Shriram City Union Finance Ltd (SCUF) for a total of Rs 789.58 crore, as announced recently.

The company informed the Bombay Stock Exchange that the allotment of 65,79,840 equity shares of SCUF was picked up by Piramal Enterprises through preferential offer.

It may be noted that Piramal Enterprises has recently announced its plans to acquire stake in SCUF by investing around 790 crore.