Mitsubishi UFJ Financial Group Inc. (MUFG), Japan’s largest bank, is reportedly considering raising its stake in India’s Shriram Finance Ltd. from approximately 20% to more than 50%. The discussions are in the preliminary stages, and no definitive timeline has been established.
MUFG acquired its current holding in April. If it proceeds, the move could require an additional investment of more than $10 billion, potentially making it the largest foreign investment in India’s financial services industry.
Shriram Finance shares rose significantly following the news.