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MUFG Reportedly Closing in on 20% Stake in Shriram Finance
December 16, 2025
Japan’s Mitsubishi UFJ Financial Group (MUFG) is reportedly close to finalizing a deal to acquire a minority stake of approximately 20% in India’s Shriram Finance Ltd. The investment is estimated to be over $3.2bn (JPY 500bn). Shriram Finance, valued at roughly $18bn, is a major financial services firm and is actively involved in lending across both urban and rural India, specializing in transportation loans and loans to small and medium-sized enterprises (SMEs). A deal could be reached as early as this week, although the specific details and the finalization of the agreement remain subject to ongoing negotiations. The move follows similar bets on India’s growth story by other Japanese financial giants, such as SMFG which recently became the largest shareholder in Yes Bank Ltd.
Shriram’s dollar bonds were trading stable with its 6.15% 2028s at 101.0, yielding 5.2%. MUFG’s dollar bonds were also trading stable with its 5.188% 2036s at 102.3, yielding 4.9%.
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