The shares of Piramal Finance listed at Rs 1,260 apiece on NSE on November 7 after its merger with Piramal Enterprises. The IPO-less market debut marks a 12 percent premium over the discovered price of Rs 1,124.20 apiece.
Following the market debut, the shares jumped 5 percent to hit the upper circuit at Rs 1,323 apiece. The stock is currently 18 percent higher than its discovered price. Its market capitalization is currently nearing Rs 30,000 crore.
Piramal Enterprises shares had ceased trading on stock exchanges since September 23. Piramal Finance was earlier a wholly-owned subsidiary of Piramal Enterprises.
About Piramal Finance and Piramal Enterprises merger:
NCLT on September 10 approved the merger of Piramal Enterprises with its wholly-owned subsidiary, Piramal Finance. Piramal Enterprises fixed September 23 as the record date for its merger with Piramal Finance. "Shareholders of PEL on the record date will receive equity shares of PFL in a 1:1 ratio, as outlined in the merger scheme," the firm said in a statement. "All debt securities issued by PEL will also be transferred to PFL," the company said.
Anand Piramal has assumed the role of chairman of Piramal Finance following its absorption of parent company Piramal Enterprises, effective from September 16, 2025.
What will be driving the next phase of growth for the company?
Jairam Sridharan, the MD & CEO of Piramal Finance, recently told Moneycontrol that improved operating efficiencies, maturing businesses and optimization of technology along with AI would be driving the next phase of profitable growth for the company. Sridharan added that the NBFC is aiming to meet the 3 percent Return on Assets (RoA) target in the coming years.
"For me personally and for the firm, it’s been very transformational five years. This was my first time of working in an NBFC and working in a family owned enterprise. The joy of building something ground up is very different. I wouldn't trade this experience for anything. We have transitioned from being essentially a wholesale lender to a retailer and such a transition is very uncommon in Indian financial services, especially at this scale and over a period of five years," he told Moneycontrol.
"The market has been conducive, and the promoter family has been very supportive of the strategy and lots of things have to fall in place for this to happen. In September 2021, after Dewan Housing acquisition got done, we were about Rs 20,000 crore book of retail. Today, that book is more than Rs 75,000 crore. The retail plus new wholesale business has grown 4x in four years. The break-even of business happened in July 2023, about two years after Dewan acquisition," he added.
Also read: Our LIVE blog on stock market updates
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
