As a group, Shriram had a hand-to-mouth situation, when it comes to capital, and it depended for internal accruals and money from private equity funds for growth, its group director GS Sundararajan said.
With the investment from the Piramals, our outlook and approach to growth and exploring new horizons will change. We will be more open for acquisitions, he said. He, however, stressed that as a group, Shriram Capital is never "enamoured" by inorganic growth opportunities and this philosophy will continue.
Among its businesses, Sundararajan indicated the housing finance arm, under Shriram City Union Finance, is looking for high growth opportunities and may scout for possible acquisition targets to grow the book and presence.
Any business which is not large enough is a very good opportunity and we may look at such offerings," he said, without giving any further details on the strategy.
Shriram will also focus on entering newer businesses which may be aligned to the current ones, he said. Earlier this month, Piramal had picked up a 20% stake in Shriram Capital for R2,014 crore, the holding company housing the transport, small business, gold and housing finance businesses.