Piramal Finance Debuts on NSE with 12% Premium Boost, Celebrates Merger Milestone

Piramal Finance launched its listing on the National Stock Exchange in Mumbai, attended by top business figures. Following a merger with Piramal Enterprises, shares traded at a 12% premium. The merger creates a comprehensive financial entity under the Piramal brand, combining lending and investment arms for a streamlined operation.

The National Stock Exchange in Mumbai witnessed Piramal Finance's ceremonious listing, marked by a significant 12% premium at Rs 1,260 post its merger with Piramal Enterprises. Notable personalities like Nita Ambani graced the event, signaling a merging of strengths under the Piramal brand.

The completion of the merger, approved by the NCLT, created a singular entity out of Piramal Enterprises and Piramal Finance, formerly Piramal Capital & Housing Finance. Effective since September 23, shareholders of Piramal Enterprises received equity in Piramal Finance on a 1:1 share ratio, halting PEL's securities trading.

Debt securities under Piramal Finance will continue unaffected, providing stability for bondholders. The merger consolidates lending and investment services, bolstering Piramal's footprint in India's financial sector. Such integration aims to streamline operations, ensuring robust financial service offerings.

(With inputs from agencies.)