The board of Shriram Finance Ltd (SFL) on Monday approved the sale of its housing-finance subsidiary SHFL to Warburg Pincus to focus more on its core operations and secure growth capital.
Sources indicate that Qatar Investment Authority (QIA) may be engaged to either invest in Mango Crest Investment (an affiliate of Warburg which is investing in SHFL) or join hands with Warburg to invest directly in the SFL subsidiary.
Warburg Pincus is expected to infuse around ₹1,000 crore into SHFL, following the completion of the deal to fund the expansion of its business.
This story is from the June 17, 2024 edition of Business Standard.
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This story is from the June 17, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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