Piramal Finance Sells Stake in Shriram Life Insurance to Sanlam Group

Piramal Finance has agreed to sell its 14.72% stake in Shriram Life Insurance Company to Sanlam Group for Rs 600 crore. The transaction will require regulatory approvals and is expected to be completed by March 2026. This move supports Piramal Finance's strategy of monetizing non-core assets.

Piramal Finance announced on Friday its decision to divest its 14.72% stake in Shriram Life Insurance Company, selling it to the South Africa-based Sanlam Group for Rs 600 crore.

The sale, part of a share purchase agreement signed with Sanlam Emerging Markets (Mauritius) Limited, is anticipated to conclude in the March 2026 quarter, subject to regulatory clearances from the Insurance Regulatory and Development Authority of India.

Piramal Finance noted that the sale aligns with their strategy to monetize non-core assets, boosting the company's balance sheet. The Sanlam Group, a prominent financial services entity in Africa, expands its reach in emerging markets like India through this acquisition.

(With inputs from agencies.)