Piramal Enterprises Ltd News

Piramal Fund Management, a unit of diversified firm Piramal Enterprises Ltd, plans to invest up to Rs 5,000 crore till March 2016 to finance construction projects.

"This potential transaction is subject to corporate approvals and is expected to be completed by the end of this week," Piramal Enterprises Ltd (PEL) said.

The two partners have agreed to commit USD 375 million each for investments under this alliance.

The conglomerate headed by billionaire Ajay Piramal is hunting for road projects put up for sale by stressed developers, betting a change of government will stimulate growth and revive an infrastructure sector plagued with delays.