Piramal Finance Approves ₹1750 Crore Preferential Issue of Warrants to Promoter Group Entity

Piramal Finance Limited announced today, August 24, 2026, that its Board of Directors has approved the issuance of up to 82,94,000 warrants, each convertible into one equity share of face value ₹2, at an issue price of ₹2,110 per warrant. This preferential issue, on a private placement basis to Nithyam Realty Private Limited, a promoter group entity, will raise an aggregate consideration of up to ₹1,750.03 crore. The Board has authorized the Committee of Directors (Administration, Authorisation & Finance) to handle the necessary decisions. In conjunction with this, the company has executed an investment agreement with the subscriber.

To seek shareholder approval for this preferential issue, Piramal Finance will convene an Extra-ordinary General Meeting (EGM) on Saturday, September 19, 2026. The Board meeting, where these approvals were granted, commenced at 10:00 a.m. and concluded at 10:20 a.m. The issue price of ₹2,110 per warrant is higher than the determined floor price of ₹2,085.06 per equity share. The subscriber will pay 25% of the issue price upon subscription and the remaining 75% upon exercise of the warrants. The warrants have a tenor of 18 months from their allotment date.