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

Piramal Finance on Friday said it would sell its entire 14.72 per cent stake 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 leading pan-African financial services group headquartered in South Africa. 

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, adding that  proceeds from the transaction will further strengthen its balance sheet. The contribution of Shriram Life Insurance towards the revenue for year ended March 31, 2025, was ₹12.68 crore (0.12 per cent of revenue) in the form of dividend received. 

 

Shriram Life Insurance is jointly promoted by the Shriram Group (via Shriram Capital) and Sanlam Group, with Shriram Capital holding around 47 per cent, and Sanlam holding about 23 per cent. After the transaction, Sanlam Group’s stake in the life insurer will go up to 37.72 per cent.