Ajay Piramal takes over as Chairman of Shriram Capital
Ajay Piramal will strengthen his role in Shriram Group by taking over as chairman of Shriram Capital, the holding company of the financial services business, as the billionaire investor consolidates his hold. “Ajay will be made chairman of Shriram Capital in a few weeks or may be in a few months,” Shriram group founder R Thyagarajan said over phone on Tuesday. "These changes will be gradual and beneficial over a period of time." Piramal, who is the chairman of the healthcare to financial services group Piramal Enterprises, embarked on the takeover with stake purchase in two listed companies of the group and in Shriram Capital. Starting May 2013, he has invested Rs 4,556 crore over the past 15 months.
Read the Economic Times news report here.