"We have been talking to him (Piramal) and we believe this quarter the deal should happen. The issue is more on how much percentage of stake we should give to him. But in this quarter it will be definitely concluded," GS Sundararajan, group director, Shriram Group, told PTI.
Mr Piramal is already associated with the group after he picked up private equity major TPG's 10 percent in used-commercial vehicles financier Shriram Transport Finance last year.
Mr Sundararajan said henceforth, the group, which has seen the participation of many a private equity firm in the past, will focus more on strategic investors rather than PEs.
The group executive, who is also the managing director of Shriram City Union Finance , the SME, two-wheelers, gold and housing financier of the group, said the group will not need any fresh capital for the next 18 months.
The home loan business, which was started two years ago with a capital of Rs. 270 crore from the parent company, may need some capital over the next 18 months as it expands its book, he said.
Shriram Trans stock price
On January 10, 2014, Shriram Transport Finance Corporation closed at Rs 602.60, down Rs 7.7, or 1.26 percent. The 52-week high of the share was Rs 841.80 and the 52-week low was Rs 465.20.
The company's trailing 12-month (TTM) EPS was at Rs 60.34 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.99. The latest book value of the company is Rs 317.11 per share. At current value, the price-to-book value of the company is 1.90.
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