TPG India to invest $120 mn in Shriram Retail

MUMBAI: Shriram City Union Finance Ltd said on Friday TPG India Investments Inc would invest $120 million to buy up to 49 percent in Shriram Retail Holdings Pvt Ltd.

TPG would also make an open offer for the same and would indirectly hold 26.7 percent stake in Shriram City Union Finance, the latter said in a statement.