Chairman of Piramal Finance Anand Ajay Piramal
| Photo Credit: ANI
Piramal Finance Ltd 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 quarter ending 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
