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Piramal, TPG on verge exit from Shriram General Insurance Holdings

Likely to sell combined stake of 30% in the company at an enterprise valuation of $2 billion, say sources

Piramal Enterprises

Shine Jacob Chennai

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Two existing investors in Shriram General Insurance Holdings, Ajay Piramal-led Piramal Group and TPG Inc, are on the verge of selling their combined stake of about 30 per cent in the company. The firm would be valued at around $2 billion, according to sources close to the development.

While Piramal holds 20 per cent stake in the firm, TPG’s share is 9.5 per cent. Shriram Capital holds 63.88 per cent. “Shriram General Insurance Holdings may be valued at about $2 billion,” said a source. This comes soon after the merger of Shriram Capital Ltd (SCL) and Shriram City Union Finance

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First Published: Mar 28 2023 | 7:30 PM IST

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