SEBI warns Piramal Enterprises over Shriram Finance stake sale

Billionaire Ajay Piramal-led Piramal Enterprises on Wednesday said it has received an administrative warning from SEBI this week in connection to its sale of 8.34% stake in Shriram Finance. SEBI had said the transaction was not considered unpublished price sensitive information (UPSI) by Piramal. Piramal Enterprises had sold its entire 8.34% stake in Shriram Finance in June 2023.