Shriram Transport declines 2% as Ajay Piramal looks to exit group cos

NEW DELHI: Shares of Shriram Transport Finance declined almost 2 per cent in morning trade on Tuesday amid reports that Ajay Piramal is in preliminary discussions with Anand Mahindra and others to exit from the Shriram group of companies.

As per an ET report, on offer are stakes in three companies — Shriram Capital, Shriram Transport Finance and Shriram City Union Finance — valued at about Rs 9,000 crore, analysts estimate.

Piramal owns 20 per cent in Shriram Capital and 10 per cent each in Shriram Transport Finance and Shriram City Union. While Shriram Capital is an unlisted holding company, Shriram Transport specialises in financing second-hand trucks and Shriram City Union is into consumer lending.


Shares of Shriram Transport Finance closed 0.23 per cent down at Rs 1,168.70 on BSE.