 "Ajay Piramal,Chairman of Piramal Enterprises")
Piramal Enterprises, which owns equity stakes in three Shriram Group companies, has started the process of exiting the Chennai-based financial services group by selling its entire 9.96 per cent stake in Shriram Transport Finance Company (STFC) for Rs 2,300 crore to a clutch of 26 investors.
Piramal sold its shares in STFC at the rate of Rs 1,000-1,015 a share, earning a 40 per cent return in six years. A top Shriram Group official said Piramal will also exit from Shriram City Union Finance (SCUF) and the group’s unlisted holding firm, Shriram Capital. Piramal also holds 20 per cent
Piramal sold its shares in STFC at the rate of Rs 1,000-1,015 a share, earning a 40 per cent return in six years. A top Shriram Group official said Piramal will also exit from Shriram City Union Finance (SCUF) and the group’s unlisted holding firm, Shriram Capital. Piramal also holds 20 per cent
