Evaluating selling entire 20% stake in Shriram Capital: Piramal Enterprises
5 years, 6 months ago

Evaluating selling entire 20% stake in Shriram Capital: Piramal Enterprises

Live Mint  

New Delhi: Piramal Enterprises Monday said it is planning to sell its entire holding of around 20 per cent stake in Shriram Capital Ltd to fund growth of its financial services business. The company had earlier this month sold its entire holding of 10 per cent holding in Shriram Transport Finance Co Ltd for ₹2,300 crore. "As part of the long-term strategy of the company to fund growth of its financial services business, the company is evaluating the feasibility of sale of the entire stake held by the company in Shriram Capital Ltd," Piramal Enterprises said in a regulatory filing. In 2013, the company had initially picked up 9.9 per cent stake Shriram Capital for ₹1,636 crore and later in the next year increased it to effectively 20 per cent with an outlay of ₹2,014 crore.

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Shriram Properties eyes annual sales worth ₹5,000 crore in the next three years driven by mid-income housing sales
4 months, 2 weeks ago

Shriram Properties eyes annual sales worth ₹5,000 crore in the next three years driven by mid-income housing sales

Hindustan Times  

Bengaluru-headquartered real estate developer Shriram Properties is looking to double its sales to ₹5,000 crore, triple revenue to ₹3,000 crore and quadruple profits to more than ₹250 crore in the next three years driven by mid-income housing sales and consolidation in the real estate sector, the company's top official said on August 21. Shriram Properties eyes annual sales worth ₹ …

Shriram Finance share price tanks 7% ahead of investors meet
10 months, 1 week ago

Shriram Finance share price tanks 7% ahead of investors meet

Live Mint  

Stock market today: Shriram Finance shares have been under sell-off heat since the early morning session. Shriram Finance share price today opened downside and went on to touch an intraday low of ₹2,257 per share level, clocking more than a 7 percent dip against its previous close of ₹2,485 apiece on NSE. Shriram Finance investors' meet Shriram Finance informed Indian …

Piramal Enterprises Gains 2% As Subsidiary Acquires Mumbai's Piramal Tower For Rs 875 Cr
1 year ago

Piramal Enterprises Gains 2% As Subsidiary Acquires Mumbai's Piramal Tower For Rs 875 Cr

News 18  

Shares of Piramal Enterprises gained over 2 per cent to hit the day’s high of Rs 922 on December 27 after its subsidiary acquired Piramal Consumer Products Private Ltd is acquiring Piramal Tower located at Peninsula Corporate Park, Lower Parel, Mumbai for Rs 875 crore. “…we wish to inform you that Piramal Consumer Products Private Limited, a wholly-owned subsidiary of …

Shriram Properties shares rise over 7% today, here’s why
1 year, 1 month ago

Shriram Properties shares rise over 7% today, here’s why

Live Mint  

The shares of Shriram Properties rose nearly 6.68% to ₹126.95 apiece on Tuesday’s trading session. The shares recorded a substantial surge following a block deal that involved 16.80 million shares, equivalent to a 10 percent stake in the company, with a total value of ₹214 crore, according to a Bloomberg report. Shriram Properties experienced a remarkable 40 percent surge in …

Piramal Enterprises Announces Rs 1,750-Crore Share Buyback, Posts Q1 Net Profit of Rs 509 Crore
1 year, 5 months ago

Piramal Enterprises Announces Rs 1,750-Crore Share Buyback, Posts Q1 Net Profit of Rs 509 Crore

News 18  

Piramal Enterprises Share Buyback: Piramal Enterprises, a leading diversified NBFC, on Friday reported a profit after tax of Rs 509 crore for the April-June 2023 quarter. “The board of directors of the company at its meeting held on July 28, 2023, approved a buyback by the Company of up to 1,40,00,000 equity shares of the company of face value of …

Shriram Finance announces 150% interim dividend, plans to raise Rs 35,000 crore on private placement basis
2 years ago

Shriram Finance announces 150% interim dividend, plans to raise Rs 35,000 crore on private placement basis

Firstpost  

Shriram Finance has announced an interim dividend of 150 percent, or Rs 15 per share with a face value of Rs 10 each, fully paid up. Shriram Finance stated in a regulatory filing that the interim dividend payout is going to be made available to the eligible shareholders on or after 18 January 2023. The NBFC’s board has approved a …

Delhivery Gets Sebi’s Go-Ahead To Raise Rs 7,460 Cr Via IPO
2 years, 11 months ago

Delhivery Gets Sebi’s Go-Ahead To Raise Rs 7,460 Cr Via IPO

ABP News  

New Delhi: Delhivery, the supply chain firm, has received Sebi’s approval to raise Rs 7,460 crore through an initial public offering. The IPO comprises fresh issuance of equity shares worth Rs 5,000 crore and an offer for sale component of Rs 2,460 crore by existing shareholders, according to the draft red herring prospectus, PTI reported. According to the draft papers, …

Shriram Capital nearing a merger deal with lending units
3 years, 2 months ago

Shriram Capital nearing a merger deal with lending units

Live Mint  

Shriram Capital Ltd., an Indian financial services company, is nearing a deal to merge with its two publicly traded shadow lending arms as it seeks to fold its offerings into a single entity, people familiar with the matter said. Unlisted Shriram Capital is in the process of firming up the amalgamation with Shriram Transport Finance Co. and Shriram City Union …

Piramal group acquires DHFL, pays ₹14,700 crore in cash
3 years, 3 months ago

Piramal group acquires DHFL, pays ₹14,700 crore in cash

The Hindu  

Piramal Enterprises Ltd on Wednesday said it has formally acquired the bankrupt Dewan Housing Finance Corporation Ltd by making the cash payment of ₹14,700 crore to creditors as per the resolution plan. DHFL has been acquired by Piramal for total consideration of ₹34,250 crore which includes an upfront cash component of ₹14,700 crore paid on Wednesday and issuance of debt …

Shriram Housing Finance receives ₹200 crore infusion from parent
3 years, 7 months ago

Shriram Housing Finance receives ₹200 crore infusion from parent

Live Mint  

Mumbai: Shriram City Union Finance has infused ₹200 crore into its housing finance subsidiary, Shriram Housing Finance Limited, the latter said in a statement on Friday. The board of Shriram City Union Finance has also approved an investment of up to ₹500 crore into SHFL over the next two years, including the recent ₹200 crore infusion. The net worth of …

Govt Seeks EoIs for Sale of Pawan Hans Once Again, Shortlisted Bidders to be Intimated by February 17
4 years, 1 month ago

Govt Seeks EoIs for Sale of Pawan Hans Once Again, Shortlisted Bidders to be Intimated by February 17

News 18  

After repeated failed attempts to disinvest public sector helicopter service provider, Pawan Hans, the Central government has again initiated the process of its sale and has sought expressions of interest for the Mini Ratna company. Around 2,84,316 equity shares are held by the President of India, through Ministry of Civil Aviation, aggregating to 51 per cent of the total paid-up …

Deals Buzz: Shriram Capital may merge two listed arms with self
5 years, 2 months ago

Deals Buzz: Shriram Capital may merge two listed arms with self

Live Mint  

Mumbai: Mint brings you your dose of the top deals news, reported from newsrooms across the country Shriram Capital may merge two listed arms with self Financier Shriram Capital Ltd plans to merge two of its listed units with itself to help investors Piramal Enterprises Ltd and TPG Capital to easily sell their stakes in Shriram Group companies, Mint reported …

With Piramal’s exit, life comes full circle for Shriram Group
5 years, 6 months ago

With Piramal’s exit, life comes full circle for Shriram Group

Live Mint  

Billionaire Ajay Piramal’s decision to finally bow out of Shriram Capital caps years of unsuccessful attempts to harness Shriram Group’s key strengths to the advantage of his own financial services business. On Tuesday, Shriram Capital Ltd, the holding company of Shriram Group, said Piramal Enterprises Ltd and private equity firm TPG Capital have decided to sell their stakes in the …

Piramal’s exit from STFC leaves little to cheer for its investors
5 years, 6 months ago

Piramal’s exit from STFC leaves little to cheer for its investors

Live Mint  

Piramal Enterprises’s exit from truck financier Shriram Transport Finance Co. Ltd is said to have fetched it a handsome 40% return. What’s more, the National Stock Exchange’s bulk deal data suggests the shares were sold at an 8% discount to prevailing prices, and about 14% lower compared to when it went public. Besides, while Piramal may have exited the business …

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