India's Piramal commits $131m to Shriram City Union Finance
Piramal Enterprises - the flagship business of India healthcare conglomerate Piramal Group - has agreed to buy a 9.99% stake in private equity-backed non-banking finance company (NBFC) Shriram City Union Finance (SCFU) for INR7.89 billion ($130 million).
According to a disclosure, Piramal will buy 6.58 million fresh shares in SCUF via a preferential allotment. SCUF ‘s current backers include TPG Capital, Norwest Venture Partners, Bessemer Venture Partners...
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