Piramal Finance Approves Preferential Issue of Warrants Worth ₹1,750 Crore

Piramal Finance Limited announced today, 24th August 2026, that its Board of Directors has approved a preferential issue of up to 82,94,000 warrants. Each warrant will carry the right to subscribe to one fully paid-up equity share of face value ₹2 each, at an issue price of ₹2,110 per warrant. This issue, which includes a premium of ₹2,108 per equity share, is for a cash consideration aggregating up to ₹1,750.03 crore.

The preferential issue will be made on a private placement basis to Nithyam Realty Private Limited, a Promoter Group entity of the Company. The Board has authorized the Committee of Directors (Administration, Authorisation & Finance) to handle all necessary decisions regarding this issuance.

In conjunction with the preferential issue, the Company has also executed an Investment Agreement with the Subscriber. The Board has scheduled an Extra-ordinary General Meeting (EGM) for Saturday, 19th September 2026, to seek shareholders' approval for this preferential issue.

The meeting of the Board of Directors commenced at 10:00 a.m. and concluded at 10:20 a.m. The issue price of ₹2,110 per warrant is ₹24.94 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 and can be exercised in one or more tranches.