Piramal Enterprises Limited has informed the Exchange regarding Proceedings of the Equity shareholders Court Convened General Meeting held on July 04, 2025.
Awaiting price reaction for this filing.
Piramal Enterprises Limited (PEL) held a Court Convened General Meeting of equity shareholders on July 4, 2025, as directed by the NCLT Mumbai Bench, to consider and approve a composite scheme of arrangement among PEL, Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited), and their respective shareholders and creditors. The meeting was chaired by Mr. Devi Prasad Semwal, a retired IRS officer appointed by NCLT. The equity shareholders approved the scheme with the requisite majority, after being briefed on its salient features, share exchange ratio, and rationale. Voting was conducted via remote e-voting from July 1-3 and e-voting during the meeting on the NSDL platform. Detailed voting results and the scrutinizer's report will be shared with the exchanges shortly.
This is a key procedural milestone in the composite scheme of arrangement involving PEL and Piramal Finance. Shareholder approval moves the restructuring closer to completion, pending further NCLT and regulatory clearances, which could reshape the group's structure and shareholder holdings.