No immediate plans to integrate Shriram business with PEL: Ajay Piramal

Piramal is one of the major shareholders, besides Shriram Employees Trust & South African financial conglomerate Sanlam in Shriram Capital

Billionaire and Piramal Enterprises Limited Chairman Ajay Piramal has said that he doesn't have any plans to integrate Shriram Group's financial business with Piramal Enterprise. 

Piramal leads Chennai-based Shriram Group, which has assets under management (AUM) worth about Rs 1 lakh crore, mainly from non-banking financial companies (NBFCs).

Early this year, it was reported that Piramal might consolidate his control in Shriram Capital, the holding company of the financial services entities of Shriram group, by increasing his stake to one third and naming a key executive as the firm's chief executive officer. 

Currently, Piramal is one of the major shareholders,