Piramal Finance To Sell Shriram Life Stake For Rs 6bn
ECONOMY & POLICY

Piramal Finance To Sell Shriram Life Stake For Rs 6bn

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.

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.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code