Piramal Finance Ltd has confirmed an agreement with Sanlam Emerging Markets (Mauritius) Ltd (SEMM) to sell its complete 14.72% stake in Shriram Life Insurance (SLI) for approximately ₹600 crore.
This transaction is anticipated to finalize in the quarter ending March 31, 2026, pending necessary regulatory approvals, as stated by the company in a filing with the NSE.
For the fiscal year ending March 31, 2025, Shriram Life Insurance contributed ₹12.68 crore, representing just 0.12% of Piramal Finance’s overall revenue through dividend earnings.
The company remarked, “This transaction aligns with our strategy of monetizing non-core assets, and we will persist in evaluating our remaining non-core holdings. The revenue generated will enhance our balance sheet significantly.”
SEMM operates as a wholly-owned subsidiary of Sanlam Emerging Markets Pty (Ltd) and is part of the expansive Sanlam Group.
Headquartered in South Africa, the Sanlam Group is a prominent pan-African financial services organization, engaging in operations across more than 30 countries, including vital emerging markets like India.