Piramal Enterprises has announced that it will sell its entire stake of 20% in Shriram Investment Holdings Private Limited to Shriram Ownership Trust for Rs 1,440 crore. The transaction is part of Piramal’s strategy to monetize non-core assets and strengthen its balance sheet. The sale will be conducted through a share purchase agreement, subject to regulatory approvals. In the previous financial year, Shriram Investment Holdings Private Limited did not contribute to Piramal Enterprises’ revenue. This is not the first divestment for Piramal Enterprises, as the company had previously sold its stake in Shriram Finance. 

Shriram Ownership Trust, the buyer in this transaction, is the promoter of Shriram Capital Private Limited, the holding company of the Shriram Group. Piramal Enterprises clarified that Shriram Ownership Trust is not related to any of its promoters, promoter group, or group companies, and the transaction is not classified as a related party transaction. 

Piramal Enterprises’ decision to sell its stake in Shriram Investment Holdings aligns with its focus on monetizing non-core assets. The proceeds from the sale will further strengthen the company’s balance sheet. The transaction is expected to be completed by the end of the financial year. 

In the previous financial year, Shriram Investment Holdings did not contribute to Piramal Enterprises’ revenue. This move indicates Piramal’s strategy to optimize its portfolio and focus on core businesses. 

Piramal Enterprises had previously sold its stake in Shriram Finance for Rs 4,823 crore in June 2023. 

Note: The above article is an interpretation of the mentioned news story and not actual news. 

Disclaimer: The information provided here is for informational purposes only and should not be considered as investment advice.