India's Shriram Finance rises on report MUFG considers majority control

Mitsubishi UFJ Financial

13/10/2026 10:24

** Shares of India's Shriram Finance SHMF.NS rise 6.05% to 984.65 rupees
** Stock rises after Bloomberg News reports that Japan's Mitsubishi UFJ Financial Group (MUFG) 8306.T is exploring ways to gain majority control of Shriram Finance 
** MUFG is in early stages of considering raising its stake in Shriram Finance to more than 50% from about 20% currently, the report said, citing people familiar with the matter
** The Japanese lender may need to invest more than $10 billion to gain control, though it has not set a firm timeline for potential deal, according to the report  
** MUFG and Shriram Finance did not immediately respond to Reuters requests for comment
** Last December, MUFG agreed to acquire 20% stake in Shriram Finance for $4.4 billion, marking the largest cross-border investment in India's financial sector at the time
** SHMF stock up 72.40%, YTD

 (Reporting by Surbhi Misra in Bengaluru)
 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))