The shares of Shriram Finance saw heavy purchasing on Wednesday, closing at Rs 3,247, up 1.9%. Shriram Finance reached a high of Rs 3,267.60 throughout the day. Following business hours, the company declared that it had completed the sale of its Shriram Housing Finance share to Warburg Pincus for Rs 3,929 crore. There may be significant change in the stock tomorrow as well. For Rs 3,929 crore, Shriram Finance has completed the sale of its whole 84.4% interest in Shriram Housing Finance to Warburg Pincus as part of a strategic realignment.
This deal, which received all required clearances from stakeholders and regulators, demonstrates Shriram Finance’s commitment to streamlining its key business processes. A significant milestone for both parties is reached with the deal, which also includes the complete sale of the remaining interest in Valiant Partners LP to Warburg Pincus, a private equity firm. Shriram Finance’s strength as a non-bank financial institution (NBFC) is demonstrated by the fact that its asset under management (AUM) currently surpasses Rs 2.43 lakh crore.
Shriram Finance share price
Shriram Finance Ltd.’s stock was up 2.94 percent at Rs 3151.35 at around 01:53 PM (IST) on Friday. In the last session, the stock had finished at Rs 3247.1. At 82035.85, the equity benchmark Sensex was up 745.89 points at the same moment. In the past year, the 30-share index has increased by 22.61%, while the scrip has increased by 578.84%. The price of the stock was Rs 1973.55 at its 52-week low and Rs 3652.15 at its 52-week high.
About the company
One of India’s top NBFCs, Shriram Finance Limited, manages assets of approximately Rs. 2.43 trillion. With a focus on used commercial vehicles and two-wheelers, it specializes in financing small road transport operators and businesses. It also provides consumer financing, insurance, home finance, and stock broking services as a member of the Shriram Group.
