Piramal Finance Ltd has entered into an agreement with Sanlam Emerging Markets (Mauritius) Ltd to sell its entire 14.72 per cent equity stake in Shriram Life Insurance for about Rs 6 billion. Sanlam Emerging Markets (Mauritius) Ltd is part of the Sanlam Group. The transaction is expected to close in the quarter ending 31 March 2026, subject to the receipt of required regulatory approvals, Piramal Finance said in a filing with the NSE.

The company said Shriram Life Insurance contributed Rs 126.8 million to Piramal Finance’s revenue for the year ended 31 March 2025, accounting for 0.12 per cent of total revenue, in the form of dividend income. Piramal Finance said the transaction is in line with its strategy of monetising non-core assets and that it will continue to pursue similar actions for other residual non-core holdings. The proceeds from the sale are expected to further strengthen the company’s balance sheet.

Sanlam Emerging Markets (Mauritius) Ltd is a wholly owned subsidiary of Sanlam Emerging Markets Pty Ltd and forms part of the Sanlam Group, a leading pan-African financial services group headquartered in South Africa with operations across more than 30 countries, including key emerging markets such as India.