Piramal looking to consolidate hold over Shriram Group

Ajay Piramal is likely to raise his stake in Shriram Capital to one-thirds from one-fifths, reports The Economic Times. The Piramal Enterprises Chairman will also be naming an executive as the CEO.

January 10, 2017 / 11:35 IST

Moneycontrol BureauAjay Piramal is likely to raise his stake in Shriram Capital to one-thirds from one-fifths, reports The Economic Times. The Piramal Enterprises Chairman will also be naming an executive as the CEO.The raise in shareholding will lead to the merger of financial services business of PEL with the holding company of Shriram Group. The merged entity will be one of India's largest nonbanking financial companies, and throw open more opportunities to tap cheaper capital and bring down the leverage ratio. The newspaper also reports that Rajesh Laddha, the Chief Financial Officer of Piramal Group, looks set to take charge as Shriram Capital CEO.

first published: Jan 10, 2017 08:16 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347