PIRAMAL ENTERPRISES LIMITED
CORPORATE PIRAMAL ENTERPRISES LIMITED ACQUIRES 10% EQUITY STAKE IN SHRIRAM TRANSPORT FINANCE COMPANY LIMITED Piramal Enterprises Ltd. (“Piramal”, NSE: PEL, BSE: 500302) today announced that Piramal has acquired hat 2,28,47,468 shares of Shriram Transport Finance Company Limited, representing approximately 10% of total equity of the company. Piramal paid Rs.723 per share. The total consideration was Rs. 1,652 Cr. The transaction was consummated / completed on the floor of the exchange. Piramal had earlier announced its foray into the financial services business. Piramal’s financial services business includes an NBFC for lending to real estate and education sectors, a real estate focused private equity company infrastructure sector. Shriram Transport is India's largest player in commercial vehicle finance with a niche presence in financing pre-owned trucks and small truck owners. Shriram’s funding operations also brings in financial inclusion for many small tru...