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 ₹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 ₹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.

SEMM, incorporated in Mauritius, is a 100% subsidiary of Sanlam Emerging Markets Pty (Ltd) and is part of the Sanlam Group. 

The Sanlam Group is a leading pan-African financial services group headquartered in South Africa, with operations in over 30 countries, including key emerging market economies such as India.