Sanlam Life cuts Shriram Finance stake

Mumbai: South Africa based Sanlam Life Insurance Co, part of the promoter group in Shriram Finance, has sold 59.8 lakh shares worth ₹1,426.83 crore on the NSE in a bulk deal Thursday. The company held about 75.37 lakh shares, or 2.01%, stake in Shriram Finance as of December 2023. The shares were bought by promoter Shriram Value Services at ₹2,386 apiece.

Shares of the company closed 1.1% down at ₹2,360 on Thursday, after declining 3.22% in the last one month.