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Piramal Enterprises Ltd Pick Up 10% Stake In Shriram Transport Finance Company Ltd For INR1,652 Crore (INR16.52 Billion)-Business Standard


Friday, 10 May 2013 11:45am EDT 

Business Standard reported that Piramal Enterprises Ltd has picked up 10% equity in Shriram Transport Finance Company Ltd (STFC), a commercial vehicle financier. The Piramal group will fork out INR1,652 crore (INR16.52 billion) to buy the stake from private equity firm TPG. The transaction was through a block deal in the market, with the Piramal group picking up about 22,847,468 shares at INR723 per share.