Shriram Capital gets a new chairman, Ajay Piramal
The Piramal Group is a diversified conglomerate with operations in over 30 countries and brand-presence across 100 markets around the world. Mr. Ajay G Piramal is the Chairman of the Piramal Group.
Now Ajay Piramal will strengthen his role in Shriram Group by taking over as chairman of Shriram Capital. Shriram Capital is the holding company of the financial services business, and the billionaire investor Ajay Piramal is consolidating his hold there.
Shriram group founder R Thyagarajan said over the phone on Tuesday that Ajay Piramal will be made the chairman of Shriram Capital in a few weeks’ or may be in a few months’ time. Thyagarajan also mentioned that these changes will be gradual and beneficial over a period of time.
Ajay Piramal, who is the chairman of the healthcare to financial services group Piramal Enterprises, embarked on the takeover with stake purchase in two listed companies of the group and in Shriram Capital. Ajay always had eyes on this business. Starting May 2013, he has invested Rs 4,556 crore over the past 15 months in Shriram Capital.
As chairman of both Shriram Group and Piramal Enterprises, he will lead a financial services group with a market value of Rs 42,425 crore. Both these companies deal in consumer and truck finance, mutual funds, insurance, real estate lending and brokerages. The group will have a stronger market position than they had as individual entities.
Source- The Economic Times
