KKR likely to pick 20% stake in Piramal Enterprises for Rs 3,500 crore

Talks are still in advanced stage with KKR, say bankers

Piramal Enterprises is close to selling up to 20 per cent in its pharmaceuticals business, and is scouting for buyers to take up the entire stake in Shriram group entities, as part of its efforts to cut debt and prepare a cash chest worth Rs 9,000 crore to meet financial liabilities.

Bankers said PEL is looking at a valuation of Rs 3,500 crore for 20 per cent stake in the pharma business and is in advanced talks with private equity firm KKR.
 

At the same time, PEL has valued its holdings in Shriram Group at Rs 5,500 crore, which it plans