Shares of Shriram Transport Finance declined almost 2 percent in morning trade on Tuesday amid reports that Ajay Piramal is in preliminary discussions with Anand Mahindra and others to exit from the Shriram group of companies.
on offer are stakes in three companies — Shriram Capital, Shriram Transport Finance and Shriram City Union Finance — valued at about Rs 9,000 crore, analysts estimate.
Shriram Capital is an unlisted holding company, Shriram Transport specialises in financing second-hand trucks and Shriram City Union is into consumer lending. Piramal owns 20 per cent in Shriram Capital and 10 per cent each in Shriram Transport Finance and Shriram City Union.
Shares of Shriram Transport Finance closed 0.23 percent down at Rs 1,168.70.