Piramal Finance board has approved issuing up to 82,94,000 warrants to Nithyam Realty, a promoter group entity, at ₹2,110 each, aggregating ₹1,750.03 crore.

Warrant issuance details

The following table summarises the key parameters of the proposed warrant issuance:

Shareholder approval

The company has scheduled an Extraordinary General Meeting (EGM) on September 19, 2026, to seek shareholder approval for the warrant issuance. The allotment is proposed to Nithyam Realty, which forms part of the promoter group of Piramal Finance.

Pricing and terms

The issue price of ₹2,110 per warrant includes a premium of ₹2,108 per equity share with a face value of ₹2. This price is ₹24.94 higher than the floor price of ₹2,085.06 determined under SEBI ICDR regulations. The tenor of the warrants is 18 months from allotment. The subscriber will pay 25% of the issue price at subscription, with the remaining 75% payable upon exercise. Any unconverted warrants will lapse, and the paid amount will be forfeited.

Post-issue shareholding

Upon full exercise of the warrants, Nithyam Realty’s stake will increase to 3.53% on a fully diluted basis as of August 21, 2026. The transaction is not classified as a related-party transaction under SEBI Listing Regulations, though the subscriber is a promoter group entity.

Piramal Finance Limited will convene a meeting of its Board of Directors on Monday, August 24, 2026, to consider a proposal for raising capital through the issuance of eligible securities by way of preferential allotment.

The company stated that the fund-raising exercise would be undertaken at an appropriate time, subject to prevailing market conditions and necessary regulatory or statutory approvals. The board is also expected to consider convening a general meeting of shareholders to seek their approval for the proposed issuance.

Regulatory Compliance and Trading Window

In compliance with Regulation 29 and Regulation 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Piramal Finance disclosed the scheduled board agenda. Concurrently, the trading window for dealing in the company's securities has been closed for all designated persons and their immediate relatives.

This restriction remains in effect in accordance with the company's Code of Conduct to Regulate, Monitor and Report Trading by Designated Persons in the Securities of Piramal Finance Limited and the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended. The window will remain closed until further notice.

Key Details