MUMBAI, April 30 India's Piramal Enterprises Ltd
has agreed to buy a 9.99 percent stake in Shriram City
Union Finance Ltd valued at about $130 million, its
latest investment in a firm linked to the Chennai-based Shriram
Piramal will buy 6.58 million fresh shares of Shriram City
Union, a non-banking finance company, Piramal said on Wednesday.
The shares are valued at 7.78 billion rupees ($128.76 million)
as per Shriram City Union's market value on Wednesday.
Earlier this month, Piramal agreed to buy a 20 percent stake
in unlisted Shriram group firm Shriram Capital Ltd for 20.14
billion rupees ($334 million), increasing its foothold in the
financial services sector.
Last year, Piramal bought a 9.9 percent stake in Shriram
Transport, another Shriram group company.
($1 = 60.4225 Indian Rupees)
(Reporting by Himank Sharma; Editing by Sumeet Chatterjee)