MUMBAI, April 17 India's Piramal Enterprises Ltd
said it agreed to buy a 20 percent stake in unlisted
Shriram Capital Ltd for 20.14 billion rupees ($334 million),
increasing its foothold in the financial services sector.
Shriram Capital is the holding company for the Chennai-based
Shriram group, which controls Shriram Transport Finance Co Ltd
and Shriram City Union Finance.
U.S-private equity firm TPG Capital holds a minority stake
in Shriram Capital. Piramal last year bought a 9.9 percent stake
in Shriram Transport.
Earlier this month, Piramal agreed to sell its 11 percent
stake in the Indian unit of Vodafone Group Plc to the
British group for 89 billion rupees ($1.48 billion).
(Reporting by Aradhana Aravindan; Additional reporting by
Indulal PM; Editing by Anand Basu)