Piramal EnterprisesPiramal Enterprises (PEL) announced the sale of its investment of 9.96% in the fully paid-up share capital of Shriram Transport Finance Company Limited (STFCL).

Piramal has a long-standing track record of shareholder value creation and has consistently leveraged the right opportunities at the appropriate time to deliver an annualized shareholder return of approx. 28% over the last 31 years.

Earlier this year in April 2019, PEL had announced its intention to exit from its investments in Shriram and optimally redeploy capital in a market that is clearly seeing consolidation take place.

This divestment is in-line with PEL’s pre-stated intent and one of the steps in a broader strategy to leverage the huge opportunities for strategic growth in its own financial services business. PEL remains committed to deliver improved performance, strengthen its industry leadership and consistently create long term value for its stakeholders.


By Loknath

Simple Guys with Simple dream to live Simple