Piramal Finance to sell its stake in Shriram Life to Sanlam

Piramal Finance Ltd said it has agreed to sell its entire 14.72 per cent stake in Shriram Life Insurance Company Ltd to Sanlam Emerging Markets (Mauritius) Ltd. for  Rs. 600 crore.

Listen to this article
Sanlam Emerging Markets (Mauritius) Ltd. is a 100 per cent subsidiary of Sanlam Emerging Markets Pty (Ltd) and is part of the Sanlam Group.
The transaction is expected to close in the quarter ending 31st March 2026, subject to receipt of requisite regulatory approvals, including approval of the Insurance Regulatory and Development Authority of India, Piramal Finance said in a stock exchange announcement.
The contribution of Shriram Life towards the revenue of the company for the year ended 31st March, 2025, was Rs 12.68 crore (i.e., 0.12 per cent of revenue) in the form of dividend received, Piramal further said.
“This transaction is aligned with our focus on monetizing non-core assets and we will continue doing the same for our other residual non-core assets. The proceeds from the Transaction will further strengthen our balance sheet,” the company further said.

Latest

HDFC Bank identifies 2 candidates for MD post

The bank has submitted the names of two candidates...

Navin’s forays into plotted development

The announcement was made at the company’s 37th anniversary...

Croma announces special prices for iPhone 17 Pro

Croma, a brand of Infiniti Retail Ltd, is continuing...

Army Design Bureau reviews Garuda’s drone ops

IPO-bound Garuda Aerospace said it used the visit to...

Newsletter

Don't miss

HDFC Bank identifies 2 candidates for MD post

The bank has submitted the names of two candidates...

Navin’s forays into plotted development

The announcement was made at the company’s 37th anniversary...

Croma announces special prices for iPhone 17 Pro

Croma, a brand of Infiniti Retail Ltd, is continuing...

Army Design Bureau reviews Garuda’s drone ops

IPO-bound Garuda Aerospace said it used the visit to...

Milky Mist’s new yoghurt plant goes on stream

In a statement, the company said the new facility...

HDFC Bank identifies 2 candidates for MD post

The bank has submitted the names of two candidates in order of preference and the remuneration proposed to be paid to them, for a...

Navin’s forays into plotted development

The announcement was made at the company’s 37th anniversary celebration, themed ‘Beyond 37 – Past, Present & Future’, in Chennai. The company said the entry...

Croma announces special prices for iPhone 17 Pro

Croma, a brand of Infiniti Retail Ltd, is continuing to sell the iPhone 17 Pro and iPhone 17 Pro Max with special offers, including...