Piramal Finance Limited has scheduled a Board of Directors meeting for March 27, 2026, to consider fund raising through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis. The announcement was made through an official communication to stock exchanges on March 20, 2026.

Board Meeting Details

The company has formally notified both the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) about the upcoming board meeting in compliance with regulatory requirements.

Regulatory Framework

The board meeting has been convened pursuant to Regulations 29 and 50 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. These regulations mandate proper disclosure and approval processes for fund raising activities by listed companies.

Company Information

Piramal Finance Limited, formerly known as Piramal Capital & Housing Finance Limited, trades on both major Indian stock exchanges. The company maintains its listing on BSE with scrip code 544597 and on NSE under the symbol PIRAMALFIN.

The official communication was signed by Bipin Singh, Company Secretary, and digitally authenticated on March 20, 2026. The notification serves to keep stakeholders informed about the company's capital raising initiatives and ensures compliance with stock exchange disclosure requirements.

Piramal Finance Limited has announced a significant credit rating upgrade from ICRA Limited, marking another positive development in the company's credit profile. The rating agency has upgraded the company's long-term rating to [ICRA]AA+ (Stable) from [ICRA]AA (Stable) across multiple financial instruments.

Rating Upgrade Details

The upgrade covers a comprehensive range of financial instruments totaling Rs. 43,508.78 crore. ICRA Limited has enhanced ratings across various categories while maintaining the stable outlook.

Short-Term Rating Reaffirmation

ICRA Limited has reaffirmed the company's short-term facilities rating at [ICRA]A1+, maintaining the highest short-term credit rating category. This reaffirmation demonstrates continued confidence in the company's liquidity management and short-term debt servicing capabilities.

Rationale Behind the Upgrade

According to the rating communication, the upgrade reflects the company's strong business, financial, and risk profile as an Upper Layer NBFC. This assessment indicates ICRA's positive view of Piramal Finance's operational performance and risk management frameworks.

Series of Rating Improvements

This ICRA upgrade continues a series of positive rating actions for Piramal Finance Limited. Earlier communications referenced upgrades from multiple rating agencies:

• CRISIL: Assignment of 'CRISIL AA+ / Stable' to Bank Loan Facilities and Non-Convertible Debentures
• S&P Global: Upgrade from 'BB- / Stable' to 'BB / Stable' for long-term issuer credit rating
• CARE Ratings Limited: Upgrade from 'CARE AA; Stable' to 'CARE AA+; Stable' for long-term facilities

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The rating communication will be made available on the company's website in accordance with regulatory requirements.

Unutilized Facilities

The rating covers both utilized and unutilized facilities, with significant headroom available across various instruments:

• NCDs: Rs. 4,109.47 crore unutilized and available for placement
• Retail NCDs: Rs. 3,663.04 crore unutilized and available for placement
• Subordinated Bonds: Rs. 1,000.00 crore unutilized and available for placement
• PP-MLD programme: Rs. 500.00 crore unutilized and available for placement

This comprehensive rating upgrade positions Piramal Finance Limited favorably in the credit markets and reflects the rating agencies' confidence in the company's financial strength and business prospects.