Shriram Transport slides 8% after Piramal Enterprises sells entire stake

Shriram Transport slides 8% after Piramal Enterprises sells entire stake

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Shriram Transport Finance Firm shares dipped eight per cent to Rs 1,000 in morning deal on the Nationwide Inventory Change (NSE) on Monday after Piramal Enterprises offered its whole 9.96 per cent stake within the firm via open market.


“Piramal Enterprises offered 9.96 per cent or 22.6 million fairness shares of Shriram Transport Finance Firm to 3rd occasion traders on the ground of the inventory alternate,” Piramal Enterprises mentioned in a regulatory submitting. CLICK TO READ PRESS RELEASE

In December 2014, Piramal Group picked up US-based non-public fairness investor TPG’s 9.9 per cent stake in Shriram Transport via block offers within the open marketplace for Rs 1,652 crore.


At 10:03, the inventory of the corporate was quoting at Rs 1,039, down four per cent, as in comparison with a zero.5 per cent fall within the benchmark Nifty 50 index. Shares of Piramal Enterprises had been buying and selling flat at Rs 2,071, after rising three per cent to Rs 2,126 on the NSE in intra-day commerce.


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