Piramal Finance Raises ₹2,099.99 Crore via QIP, Allots 99.5 Lakh Shares
Piramal Finance Limited successfully raised ₹2,099.99 crore through a Qualified Institutions Placement (QIP). The company allotted 99,52,606 equity shares at ₹2,110 per share. This issuance increases the paid-up equity share capital to ₹47.33 crore.
The substantial capital raised through QIP will significantly impact the company's financial capacity, enabling potential growth, expansion, or debt reduction.
The company successfully raised a significant amount of capital through a QIP, indicating investor confidence and strengthening its financial position.
Piramal Finance Limited announced the successful completion of its Qualified Institutions Placement (QIP), raising ₹2,099.99 crore (approximately $2.5 billion).
The Committee of Directors (Administration, Authorisation & Finance) of the Board of Directors, in its meeting held on August 28, 2026, approved the issue and allotment of 99,52,606 equity shares to eligible qualified institutional buyers. The issue price was fixed at ₹2,110 per equity share, including a premium of ₹2,108 per equity share.
The QIP opened on August 24, 2026, and closed on August 28, 2026. Following this allotment, the company's paid-up equity share capital has increased to ₹47.33 crore, comprising 23,66,30,306 equity shares of ₹2 each, from ₹45.34 crore (22,66,77,700 equity shares).
The announcement also includes a list of allottees who have been allocated more than five percent of the equity shares offered in the issue, with ICICI Prudential Banking and Financial Services Fund, Kotak Flexicap Fund, and Goldman Sachs Funds - Goldman Sachs India Equity Portfolio being some of the major allottees.
A plain-language summary of a public exchange filing by Piramal Finance Limited. Read the original for the full detail.