Shriram Finance Ltd concludes transfer of Shriram Housing Finance Limited to Warburg Pincus

Shriram Finance Limited (Shriram Finance), the flagship company of the Shriram group, today announced the successful completion of the sale of its entire stake (i.e., 84.44% of the shareholding on a fully diluted basis) in its housing finance subsidiary Shriram Housing Finance Limited (SHFL/ Shriram Housing Finance) to Warburg Pincus, a leading global growth investor firm for a sale consideration of INR 3,929 crores.

The sale of Shriram Finance's stake in Shriram Housing Finance is done to Warburg Pincus' affiliate - Mango Crest Investment Ltd. The transaction marks a significant milestone, with all requisite approvals from regulatory authorities and stakeholders duly secured.

Shriram Housing Finance, a leading affordable housing finance company, has been an integral part of Shriram Finance's growth story, contributing significantly to financial inclusion through its focus on the housing needs of underserved segments. With this transaction, SHFL is well-positioned to further expand its operations and accelerate its growth under Warburg Pincus' ownership and guidance.

Mr. Umesh Revankar, Executive Vice Chairman, Shriram Finance speaking about the development said, "We are pleased to announce the completion of this transaction and extend our heartfelt best wishes to the team as they embark on this new chapter under Warburg Pincus. We are confident that the team will continue to drive success through financial inclusion and affordable housing for individuals. We look forward to seeing it scale to greater heights under the stewardship of Warburg Pincus."

The sale aligns with Shriram Finance's strategic priorities, allowing the Company to sharpen its focus on its core business segments and growth areas. This transition underscores Shriram Finance's commitment to creating value for its stakeholders while fostering long-term sustainability.

Shares of Shriram Finance Limited was last trading in BSE at Rs. 3247.45 as compared to the previous close of Rs. 3186.75. The total number of shares traded during the day was 23500 in over 3784 trades.

The stock hit an intraday high of Rs. 3265.60 and intraday low of 3179.20. The net turnover during the day was Rs. 75915752.00.

Source : Equity Bulls

Keywords

ShriramFinance INE721A01013 StakeSale ShriramHousingFinance WarburgPincus