Piramal Finance approved the allotment of ₹1,100 crore worth of secured non-convertible debentures (NCDs) on a private placement basis. The Committee of Directors (Administration, Authorisation & Finance) sanctioned the move during its meeting held on September 21, 2026.

The company issued 1,10,000 secured, rated, listed, and redeemable NCDs, each carrying a face value of ₹1,00,000. The total issuance value stands at ₹1,100,00,00,000 (Rupees One Thousand One Hundred Crore only).

Listing Details

The NCDs are proposed to be listed on the Wholesale Debt Market of both the National Stock Exchange of India Limited (NSE) and BSE Limited. The NSE serves as the designated stock exchange for this issuance.

Regulatory Compliance

The disclosure was made pursuant to Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The committee meeting commenced at 10:45 am and concluded at 11:00 am on September 21, 2026.

Piramal Finance shareholders approved a special resolution to raise capital of up to ₹1,750.03 crore through the issuance of warrants convertible into equity shares.

The Extraordinary General Meeting (EGM) was held on September 19, 2026, via video conferencing and other audio-visual means in compliance with Ministry of Corporate Affairs and SEBI circulars.

Capital Raise Details

The resolution authorizes a preferential issue on a private placement basis to Nithyam Realty Private Limited, an entity belonging to the company’s promoter group. The funds will be raised by issuing warrants that are convertible into equity shares.

Voting Results

The resolution passed with a 99.94% majority of valid votes cast. A total of 18,40,50,818 votes were cast in favour, while 1,09,075 votes were cast against the resolution. The voting rights were reckoned based on shares held as on September 12, 2026.

Promoters voted unanimously in favour of the resolution. Among public institutions, 99.93% of polled votes supported the measure, while public non-institutions showed a 99.13% approval rate.

Meeting Proceedings

Mr. Jairam Sridharan, Managing Director and CEO, chaired the meeting as Mr. Anand Piramal, Chairman, was deemed interested in the resolution and did not attend. Independent directors Asheet Mehta, Rajiv Mehrishi, and Suhail Nathani were present.

Remote e-voting commenced on September 16, 2026, at 9:00 am and concluded on September 18, 2026, at 5:00 pm. Scrutinizers from N L Bhatia & Associates oversaw the voting process. The resolution passed with the requisite majority.