Chairman of Piramal Finance Anand Ajay Piramal
| Photo Credit: ANI
Piramal FinanceLtd has announced that it has entered into an agreement with Sanlam Emerging Markets (Mauritius) Ltd (SEMM), an entity of the Sanlam Group to sell its entire 14.72% equity stake in Shriram Life Insurance (SLI) for about ₹600 crore.
The transaction is expected to close in the quarterending March 31, 2026, subject to requisite regulatory approvals, the company said in a filing will NSE.
The contribution of SLIC towards the revenue of Piramal Finance for the year ended March 31, 2025 was ₹12.68 crore (i.e. 0.12% of revenue) in the form of dividend received.
“This transaction is aligned with our focus on monetizing non-core assets and we will continue doing the same for our other residual non-core assets. The proceeds from the Transaction will further strengthen our balance sheet,” the company said in the fining.
SEMM, incorporated in Mauritius, is a 100% subsidiary of Sanlam Emerging Markets Pty (Ltd) and is part of the Sanlam Group.
The Sanlam Group is a leading pan-African financial services group headquartered in South Africa, with operations in over 30 countries, including key emerging market economies such as India.
Published – December 19, 2025 01:08 pm IST
