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The shares of Piramal Finance listed at Rs 1,260 apiece on NSE on November 7 after its merger with Piramal Enterprises
Piramal Finance listing ceremony
The shares of Piramal Finance listed at Rs 1,260 apiece on NSE on November 7 after its merger with Piramal Enterprises. The IPO-less market debut marks a 12 per cent premium over the discovered price of Rs 1,124.20 apiece.
Piramal Enterprises shares have remained suspended from trading on the stock exchanges since September 23, following the merger process with its wholly-owned subsidiary, Piramal Finance.
The National Company Law Tribunal (NCLT) had approved the merger on September 10. Subsequently, Piramal Enterprises set September 23 as the record date for the amalgamation. “Shareholders of PEL on the record date will receive equity shares of PFL in a 1:1 ratio, as outlined in the merger scheme,” the company said in a statement. “All debt securities issued by PEL will also be transferred to PFL,” it added.
Following the merger, Anand Piramal assumed charge as Chairman of Piramal Finance, effective September 16, 2025, as the firm completed the absorption of its parent company, Piramal Enterprises.
Jairam Sridharan, Managing Director and CEO of Piramal Finance, told Moneycontrol that the next phase of growth will be driven by improved operating efficiencies, business maturity, and technology optimization through artificial intelligence. Sridharan added that the non-banking financial company (NBFC) aims to achieve a 3 per cent Return on Assets (RoA) target in the coming years.
“For me personally and for the firm, it’s been a very transformational five years. This was my first time working in an NBFC and in a family-owned enterprise. The joy of building something from the ground up is very different — I wouldn’t trade this experience for anything,” Sridharan told Moneycontrol.
He added, “We’ve transitioned from being essentially a wholesale lender to a retailer — such a shift is rare in Indian financial services, especially at this scale and within just five years. The market has been conducive, and the promoter family has been very supportive of the strategy.”
Discussing the company’s growth trajectory, Sridharan said, “In September 2021, after the Dewan Housing acquisition, our retail book was around Rs 20,000 crore. Today, that figure stands at more than Rs 75,000 crore. The retail plus new wholesale business has grown four times in four years, and the business broke even in July 2023, just two years after the Dewan acquisition.”
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
November 07, 2025, 10:24 IST
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