Piramal Finance to sell 14.72% stake in Shriram Life for ₹600 crore

Piramal Finance on Friday said it will sell its entire stake of 14.72 per cent in Shriram Life Insurance to Sanlam Emerging Markets (Mauritius) Ltd for ₹600 crore.

 

Sanlam Emerging Markets is a 100 per cent subsidiary of Sanlam Emerging Markets Pty and is part of the Sanlam Group, a pan-African financial services group headquartered in South Africa.

 

When will the deal close and what approvals are needed?

 

The transaction is expected to close in the quarter ending March 31, 2026, subject to receipt of requisite regulatory approvals, including approval of the Insurance Regulatory and Development Authority of India (Irdai), the lender said. It added that the proceeds from the transaction will further strengthen its balance sheet.

 

The contribution of Shriram Life Insurance towards the revenue for the year ended March 31, 2025, was ₹12.68 crore (0.12 per cent of revenue) in the form of dividend received.

 

Why is Piramal Finance selling the stake?

 

The lender said the monetisation of its stake in Shriram Life Insurance is aligned with its focus on monetising non-core assets. It added that it will continue doing the same for its other residual non-core assets.

 

How will the shareholding change after the deal?

 

Shriram Life Insurance is jointly promoted by the Shriram Group (via Shriram Capital) and the South African Sanlam Group. Shriram Capital is the largest shareholder, holding around 47 per cent, while Sanlam holds about 23 per cent.

 

After the transaction, Sanlam Group’s stake in the life insurer will rise to 37.72 per cent.