Shriram Group plans to raise ₹2,000-2,400 crore in debt to buy Piramal Enterprises stake in Shriram Investment Holdings. Piramal Enterprises fully exits Shriram Group after selling its stake in Shriram Finance.
In a regulatory filing, the company said the sale is part of its strategy to monetise non-core assets, adding the proceeds will strengthen its balance sheet. The transaction is subject to Shriram Ownership Trust obtaining regulatory approvals and expected to be completed by March 31
In a regulatory filing, the company said the sale is part of its strategy to monetise non-core assets, adding the proceeds will strengthen its balance sheet. The transaction is subject to Shriram Ownership Trust obtaining regulatory approvals and expected to be completed by March 31
He built a fortune lending to low-income borrowers shunned by banks. He paid staff below-market wages and thought they still earned too much. He gave away almost all his wealth to a handful of employees, content with his small house and a $5,000 car. R Thyagarajan is arguably one of…