Piramal had invested Rs 1636 crore in May last year to acquire ~9.9% equity in Shriram Transport Finance Company, one of the listed NBFCs forming part of the Shriram Group. Commenting on the investment, Mr. Ajay Piramal, Chairman of Piramal Enterprises Limited, said "This investment builds our presence in financial services sector and we see long term shareholder value creation from our partnership with Shriram Capital. The Company is well known for its culture and values, which resonates well with Piramal Group's philosophy." Commenting on the partnership, Mr. R. Thyagarajan, Founder of Shriram Group, said Shriram Group has pioneered providing financial services to the under-served section of the economy. Our success over the last four decades has been possible only through strategic partnerships.