Acquisitions25 Jan 2024, 02:14 am
Piramal Enterprises to Acquire 10.39% Stake in Annapurna Finance for Rs. 300 Crores
AI Summary
Piramal Alternatives Trust, a wholly-owned subsidiary of Piramal Enterprises, has entered into an agreement to acquire 10.39% stake in Annapurna Finance Private Limited for a cash consideration of Rs. 300 crores, subject to regulatory approvals. The acquisition is part of Piramal's investment objective and strategy, and is expected to be completed before March 31, 2024.,
Key Highlights
- Piramal Enterprises to acquire 10.39% stake in Annapurna Finance for Rs. 300 crores
- Transaction subject to regulatory approvals
- Annapurna Finance is a top 10 MFI in India with an AUM of Rs. 9,233 crores
- Piramal's investment objective and strategy
- Expected completion before March 31, 2024