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Japan’s MUFG to invest up to $5 billion in Shriram Finance for 20% stake in major India bet
Mint’s requests for a comment.Amid media reports, Shriram Finance informed the exchanges late Tuesday that its board is scheduled to meet on Friday to consider a proposal to raise funds through a rights issue, preferential allotment, qualified institutional placement, or any other permissible mode. The transaction is expected to be carried out through a fresh issue of equity shares and/or other eligible securities, the company had said in the regulatory filing.The development comes on the back of a larger trend by global strategic players looking to enter India with large buyout deals.
Recent deals include Japan’s Mizuho’s majority investment in Avendus, Emirates NBD’s controlling stake in RBL bank in a $3 billion transaction and MUFG eyeing a stake in Yes Bank, Mint earlier reported.Global private equity firm Blackstone also acquired a 9.9% stake in Federal Bank for $705 million while IHC through its affiliate Avenir Investment RSC Ltd acquired a 43.46% stake in Samman Capital for $1 billion.Meanwhile, Shriram Finance is India’s second largest non-banking finance company. It had about ₹2.81 trillion in assets under management as of September, with over 3,000 branches in India, as per information on its website.
Year-to-date, Shriram Finance’s share have risen 45.34% to close at ₹848.4 apiece on Tuesday.In FY25, Shriram Finance reported a total income of ₹41,859.47 crore, compared to ₹34,997.61 crore in the previous year. Its net profit expanded to ₹9,761.00 crore from ₹7,190.48 crore in FY24.The promoters own 25.39% of Shriram Finance, the bulk of which is held through group holding company Shriram Capital, which has a 17.85% stake.
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