Shriram Finance has clarified and dismissed speculation about a stake sale to Japan’s MUFG. Responding to this , the Shriram Finance share price, zoomed around 3.66 per cent in intra-day trade.
Shriram Finance clarifies on MUFG deal speculation
The denial came through an exchange filing leaving no room for ambiguity. “With a view to prevent any misinformation and ensure full transparency, we hereby in good faith wish to clarify that the Company is not aware of any such potential majority stake sale of equity shares of the Company by any shareholder(s),” the company stated.
The clarification was triggered by a media report claiming MUFG was in advanced talks to acquire a 20% stake in Shriram Finance for Rs 23,200 crore through a primary share issuance. But the company countered swiftly, saying no such discussion had taken place with any party and no shareholder had approached it with plans to sell equity. “In this regard, the Company has clarified to the said mainstream media that this is a rumour/speculation and has categorically denied the knowledge about information of such stake sale to any party,” the filing added.
The company added, “We request you to take note of this clarification and disregard any misleading information that may have been circulated in the media.”
Shriram Finance shareholding pattern
Shriram Finance’s shareholding structure remains in focus. The promoter holding has fallen to 25.39% from 29.37% in September 2022. Foreign investors account for 52.61% of equity, while domestic institutional investors hold 16.32%. The Government of Singapore holds a 5.41% stake, alongside the Monetary Authority of Singapore and New World Fund Inc. as notable foreign shareholders.