5 months ago
2
Piramal Finance Ltd has announced that it has entered into an statement with Sanlam Emerging Markets (Mauritius) Ltd (SEMM), an entity of the Sanlam Group to merchantability its full 14.72% equity involvement successful Shriram Life Insurance (SLI) for astir ₹600 crore.
The transaction is expected to adjacent successful the quarter ending March 31, 2026, taxable to requisite regulatory approvals, the institution said successful a filing volition NSE.
The publication of SLIC towards the gross of Piramal Finance for the twelvemonth ended March 31, 2025 was ₹12.68 crore (i.e. 0.12% of revenue) successful the signifier of dividend received.
“This transaction is aligned with our absorption connected monetizing non-core assets and we volition proceed doing the aforesaid for our different residual non-core assets. The proceeds from the Transaction volition further fortify our equilibrium sheet,” the institution said successful the fining.
SEMM, incorporated successful Mauritius, is simply a 100% subsidiary of Sanlam Emerging Markets Pty (Ltd) and is portion of the Sanlam Group.
The Sanlam Group is simply a starring pan-African fiscal services radical headquartered successful South Africa, with operations successful implicit 30 countries, including cardinal emerging marketplace economies specified arsenic India.
