Billionaire Piramal Plans to Step Down From Shriram Capital
- Says he’ll resign ‘in due course’, planning Shriram stake sale
- Looking to start two funds after announcing capital raise
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Ajay Piramal said he plans to resign as chairman of Shriram Capital Ltd., the Indian non-bank finance company backed by South Africa’s Sanlam Group, as he works to sell his stake in Shriram’s parent group.
“I will step down in due course as I do not have much role in Shriram Capital,” Piramal said in a recent interview in Mumbai. He declined to share details.