Thyagarajan's comment comes at a time when Ltd (PEL) is also considering selling its 20 per cent stake in Shriram Capital.
"Many people come and go (but) that doesn't mean deal will be done. There is some interest, but not strong enough to reach a particular conclusion. This will go on for quite some time," he said, referring to talks with potential investors for TPG's stake.
"The value expectations are quite high, and these days I think international investors will not be very quick to take decisions about investing in India, particularly in NBFCs.
Though discussions have not been called off, nothing has been concluded."
Media reports earlier said Blackstone Group and Carlyle Group were in talks to acquire stake in Shriram Capital, and the existing investors are looking at a valuation of around Rs 8,000 crore.
PEL, which owns equity stakes in three Shriram Group
companies, in June exited the STFC by selling entire 9.96 per cent stake for Rs 2,300 crore to 26 investors.
"We understand that PEL’s evaluation of exit from SCL (Shriram Capital) is a part of its long-term strategy to fund growth of its financial services business. TPG’s evaluation of an exit from SCL is consistent with its investment review practices, and takes into account, among other factors, the period of time TPG has been invested in SCL. If and when definitive documents for such a transaction are executed, appropriate disclosures will be made in accordance with applicable laws," said a statement from Shriram Capital Ltd in June.
Shriram Ownership Trust (SOT), which manages the business of Shriram Group companies
said in press statement at that time that it will manage the Shriram Group of companies
once PEL and TPG exit Shriram Capital Ltd.