Shapoorji Pallonji Group can induct more investors in Shapooji Pallonji Finance as it aims to diversify its product portfolio. Photo: ReutersMumbai: Special situations investor SSG Capital Management has bought nearly 47% stake in Shapoorji Pallonji Finance Pvt. Emails sent to SSG Capital and Shapoorji Pallonji Group remained unanswered until press time on Wednesday. Shapoorji Pallonji Finance is headed by CEO Sanjay Hinduja who had joined in 2014 from Everstone Capital backed Indostar Capital Finance Ltd.As per the terms of agreement, SP group will have board control and management control over Shapoorji Pallonji Finance, irrespective of the level of stake held in Shapoorji Pallonji Finance. The investment by SSG in Shapoorji Pallonji Finance isn’t, however, the first time that it has explored partnership with Shapoorji Pallonji group.

Source: Mint April 18, 2018 19:07 UTC