Private Equity

Liquidity Events

Piramal Enterprises sells 8.34% stake in Shriram Finance for Rs.4,824-Cr

Business Line  

Piramal Enterprises has sold its entire 8.34% stake (3.12 crore shares) of Shriram Finance via multiple block deals on the NSE at INR 1,545 per share, translating to a deal value of around INR 4,824 crore. A total of 54 buyers participated in the block deals. GIC, the sovereign wealth fund of Singapore, was the largest buyer, picking up 91.2 lakh shares followed by Societe Generale ODI which bought 30.4 lakh shares. T Rowe Price, Nippon Mutual Fund, Mirae Asset Mutual Fund, SBI Life Insurance, Fidelity Group, Kotak Life Insurance, Goldman Sachs (Singapore), JP Morgan, Saudi Central Bank, Vanguard Group, and the Norwegian Government Pension Fund Global were among other large buyers that bought between 1-10 lakh shares. Other buyers included HSBC, Bajaj Allianz Life Insurance, ICICI Prudential Life Insurance, and Invesco Mutual Fund . Earlier this week, TPG India Investments sold its entire 2.65 % stake in Shriram Finance for INR 1,390 crore. In January, PE firm Apax Partners sold its 2.95 % stake for INR 1,300 crore, also via block deals.