Global buyout giant Bain Capital, Singapore sovereign wealth fund Temasek and Mumbia-based conglomerate Piramel Group are reported to be leading the race to buy TPG Capital’s 20 per cent stake in Shriram Transport Finance Corp.
The company, which ranks as India’s biggest commercial vehicle financier, is likely to be sold next month after the court approves the merger of holding company Shriram Holding, Madras with itself, the Economic Times reported, citing unnamed sources.
TPG’s indirect holding in the business is understood to be worth up to INR30bn ($543m).
Credit Suisse is handling the sale process, the report added.
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