Piramal Finance exit: Firm to sell 14.72% stake in Shriram Life to Sanlam; Rs 600 crore deal

Piramal Finance is divesting its 14.72% stake in Shriram Life Insurance Company to South Africa’s Sanlam Group for Rs 600 crore. The proceeds is expected to bolster Piramal Finance’s balance sheet, as Shriram Life’s contribution to its revenue was minimal.