Piramal to Exit Shriram Insurance Ventures

• Piramal Enterprises plans to sell its stakes in Shriram Group's insurance ventures for 4,000-5,000 crore.
• The group holds about 15% in Shriram General Insurance and 13.3% in Shriram Life Insurance.
• Investment bankers Avendus Capital and Arpwood Capital have been appointed to find buyers.
• The sale is part of Piramal's strategy to focus on its core lending business and comply with regulatory norms.
• Proceeds from the sale will strengthen Piramal's balance sheet and fund future growth opportunities.

Source: Mint, Mint