Piramal Finance Limited has informed the Exchange about Approval of scheme of amalgamation amongst the Company and Piramal Corporate Tower Private Limited, Piramal Agastya Offices Private Limited and DHFL Investments Limited (wholly-owned subsidiaries) and their respective shareholders and creditors, subject to receipt of necessary regulatory approvals
PIRAMALFIN · price
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Piramal Finance Limited's board has approved a scheme of amalgamation to merge three of its wholly-owned subsidiaries — Piramal Corporate Tower Private Limited, Piramal Agastya Offices Private Limited, and DHFL Investments Limited — into itself. The merger aims to simplify the group structure, optimize capital allocation, and strengthen the balance sheet. Since all three entities are wholly-owned by PFL, no new shares will be issued and there will be no change in PFL's shareholding pattern. The scheme requires approval from NCLT Mumbai Bench, IRDAI, shareholders, and creditors. Separately, the board approved raising up to Rs. 15,000 crore through redeemable non-convertible debentures (NCDs) on a private placement basis during FY2026-27, to be issued in one or more tranches. Additionally, Independent Director Mr. Gautam Bhailal Doshi resigned citing personal reasons.
The amalgamation of small, non-core subsidiaries (mostly real estate and investment vehicles) into PFL is a housekeeping exercise with no dilution for shareholders. The NCD borrowing plan of up to Rs. 15,000 crore signals continued fundraising to support lending growth across retail, mid-market corporate, and real estate segments.