Piramal Finance on Friday announced that it will divest its entire 14.72 per cent stake in Shriram Life Insurance Company (SLIC) to South Africa-based Sanlam Group for ₹600 crore.
The divestment will be carried out through a share purchase agreement signed on Friday between Piramal Finance and Sanlam Emerging Markets (Mauritius) Limited (SEMM). Sanlam Group is the foreign partner in the insurance joint venture with Shriram Finance and currently holds a 23 per cent stake in the life insurer, as per public disclosures as of September 30, 2025.
The transaction is expected to be completed in the quarter ending March 31, 2026, subject to necessary regulatory approvals, including clearance from the Insurance Regulatory and Development Authority of India (IRDAI), Piramal Finance said in a regulatory filing.
