Piramal Enterprises on Wednesday divested its entire stake 8.34% stake in non-banking monetary firm Shriram Finance for ₹4,824 crore by means of an open market transaction.
Aditya Birla Sun Life Mutual Fund (MF), Kotak Mahindra MF, ICICI Prudential Life Insurance Company, Monetary Authority of Singapore, Blackrock, BNP Paribas Arbitrage ODI, Government of Singapore, Ghisallo Master Fund LP, New World Fund Inc and Societe Generale ODI, amongst others, have been consumers of shares.
According to the block deal knowledge out there with the National Stock Exchange (NSE), Piramal Enterprises offloaded 3,12,21,449 shares, amounting to an 8.34% stake in Shriram Finance.
The shares have been disposed of at a median worth of ₹1,545 apiece, taking the transaction measurement to ₹4,823.71 crore.
As of the March quarter, Piramal Enterprises Ltd. held greater than 3.12 crore shares, equal to an 8.34% stake in NBFC agency Shriram Finance, shareholding knowledge confirmed with the bourse.
Shares of Shriram Finance zoomed 11.31% to shut at ₹1,736 per piece on the NSE.
On Monday, U.S.-based personal fairness agency TPG offloaded its entire 2.65% stake in Shriram Finance for ₹1,390 crore by means of open market transactions.
Shriram Finance is a retail NBFC providing credit score options for industrial autos, two-wheeler loans, automotive loans, gold loans, private loans and small enterprise loans.
In November 2022, Shriram Group’s entities – Shriram Transport Finance Company Ltd., Shriram City Union Finance Ltd. and Shriram Capital Ltd. merged to type Shriram Finance Ltd.
