Shriram Finance Ltd.

Dynasty Acquisition (FPI) has divested 2.14 per cent stake in the non-banking financial company (NBFC) Shriram Finance for Rs 1,040 crore through open market transactions. The buyers include -- FID Funds Mauritius, Societe Generale, BNP Paribas Arbitrage, and ICICI Prudential Life Insurance Company, among others.

Dynasty Acquisition (FPI) offloaded a total of 79,96,867 shares in eight transactions, amounting to a 2.14 per cent stake in the company. The shares were sold at an average price of Rs 1,300 per piece, taking the transaction value to Rs 1,039.59 crore. Post the latest transaction, Dynasty Acquisition (FPI) shareholding reduced to 2.49 per cent from a 4.63 per cent stake in the company.

Shriram Finance is one of the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets.