TPG India Investment has sold its 20.3% stake in financial services firm Shriram City Union Finance for about Rs 2,300 crore in an off-market deal to another private equity firm Apax Partners. TPG India Investment sold about 1.3 crore shares of Shriram City Union Finance in an off-market deal to Dynasty Acquisition.
Last year, Piramal Enterprises, a firm promoted by Ajay Piramal, had acquired 9.99 per cent stake in Shriram City Union Finance for a total of Rs 790 crore.
Shriram City Union Finance has presence in the following business segments - loan Against Gold (LAG), Small Business Finance Loans (SBF), Auto Loans, 2-Wheeler loans, Personal Loans and Consumer Durables Loans.
