Piramal Finance Ltd has announced that it has entered into an agreement with Sanlam Emerging Markets (Mauritius) Ltd (SEMM), an entity of the Sanlam Group to sell its entire 14.72% equity stake in Shriram Life Insurance (SLI) for about Rs 600 crore. The transaction is expected to close in the quarter ending March 31, 2026, subject to requisite regulatory approvals, the company said in a filing will NSE. The contribution of SLIC towards the revenue of Piramal Finance for the year ended March 31, 2025 was Rs 12.68 crore (i.e. 0.12% of revenue) in the form of dividend received.

“This transaction is aligned with our focus on monetizing non-core assets and we will continue doing the same for our other residual non-core assets. The proceeds from the Transaction will further strengthen our balance sheet,” the company said in the fining.