Investment24 Aug 2026, 10:47 am
Piramal Finance Approves ₹1750 Cr Preferential Issue to Promoter Group
AI Summary
Piramal Finance Ltd's Board of Directors has approved a preferential issue of up to 82,94,000 warrants to Nithyam Realty Private Limited, a promoter group entity. The issue, amounting to ₹1,750.03 crore, involves warrants convertible into equity shares at ₹2,110 per warrant. The company has also executed an investment agreement with the subscriber and will convene an Extra-ordinary General Meeting (EGM) on September 19, 2026, to seek shareholder approval. This move is subject to requisite statutory and regulatory approvals.
Key Highlights
- Board approved preferential issue of warrants worth ₹1750.03 crore.
- Issue is to promoter group entity Nithyam Realty Private Limited.
- Warrants are convertible into equity shares at ₹2,110 each.
- EGM scheduled for September 19, 2026, for shareholder approval.
- Investment agreement executed with the subscriber.
Price Impact
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