CARE finds no deviation in use of Piramal Finance issue funds
PIRAMALFIN · price
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CARE Ratings' first monitoring report for Piramal Finance's ₹2,100 crore share issue found no deviation. By September 30, 2026, ₹2,060.21 crore was used: ₹2,000 crore for lending and capital needs, ₹52 crore for tax payments and loan servicing fees, and ₹8.21 crore for issue costs. ₹39.79 crore remained in escrow for expenses. The company also allotted 82.94 lakh promoter-group warrants for ₹1,750.03 crore, with 25 percent paid upfront.
No deviation in issue fund use was found, reassuring shareholders. Lending aids growth, but pending issue costs and promoter warrants need review.