Piramal Enterprises to sell entire 8.34% stake in Shriram Finance via block deal: Reports

According to the media reports, Piramal Enterprises planning to sell an 8.34% stake in Shriram Finance for Rs 4,630 crore via a block deal. 

The floor price has been set at Rs 1,483 per share, a 4.9% discount to the closing price of Rs 1,559.85 on the NSE. Further, a discount of around 5%, as the current market price of Shriram Finance's stock is Rs 1,559.45 on the BSE.

The sale of 3.12 crore shares by Piramal is scheduled for Wednesday, with the expected settlement date set for June 22, 2023, the term sheet said.

Morgan Stanley India will act as the sole placement agent for this transaction.

Source: Media reports

Top stories
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read . 02 Aug 2024 . 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read . 02 Aug 2024 . 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read . 02 Aug 2024 . 12:36 PM

Related Blogs
blog-logo

Share Market

blog-logo

10 mins read . 09 Dec 2024

What is the Bombay Stock Exchange?

  • 0 people read
blog-logo

Share Market

blog-logo

13 mins read . 09 Dec 2024

Stocks Under 5 Rupees in India

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions