Piramal Finance Limited has successfully completed the amalgamation of six subsidiary companies, marking a significant corporate restructuring move. The amalgamation involves the merger of six transferor companies with Piramal Investment Advisory Services Private Limited as the transferee company.

Key Details of the Amalgamation

The amalgamation process, approved by the National Company Law Tribunal (NCLT) Mumbai Bench, has resulted in the dissolution of the following transferor entities without winding up:

1. Piramal Finance Sales and Service Private Limited
2. DHFL Holdings Limited
3. DHFL Advisory & Investments Private Limited
4. Piramal Systems & Technologies Private Limited
5. Piramal Securities Limited
6. PEL Finhold Private Limited

Legal and Regulatory Compliance

The company has followed the legal procedures for this corporate action:

• The scheme of amalgamation was initially approved by the Board of Directors.
• The NCLT Mumbai Bench approved the Scheme of Amalgamation under Section 233 of the Companies Act, 2013.
• Piramal Finance Limited filed the certified copy of the NCLT order along with the Scheme of Amalgamation with the Registrar of Companies, Mumbai.

Implications and Next Steps

This amalgamation is expected to streamline Piramal Finance's corporate structure, potentially leading to operational efficiencies and simplified management. Shareholders and stakeholders should note that:

• All transferor companies have been merged into Piramal Investment Advisory Services Private Limited.
• The company has complied with the applicable provisions of the SEBI Listing Regulations in disclosing this information.

Investors and market participants are advised to take note of this significant corporate action, as it may have implications for the company's future operations and financial reporting.

Additional Corporate Activity

Prior to the amalgamation's effective date, Piramal Finance Limited also approved the issuance of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) on a private placement basis. This issuance, under the existing ISIN INE202B07JP8, indicates the company's ongoing efforts to manage its capital structure alongside the corporate restructuring.

As Piramal Finance Limited moves forward with its new corporate structure, stakeholders will be keen to observe how these changes impact the company's overall performance and market position in the future.

Piramal Finance Limited, a key player in India's financial services sector, has successfully completed a significant corporate action that marks a new chapter in its journey. The company has finalized a share allotment to existing shareholders of Piramal Enterprises Limited, following an NCLT-approved Scheme of Arrangement.

Share Allotment Details

The share allotment was conducted on a 1:1 ratio basis. This move involved the transfer of shares between Piramal Enterprises Limited and Piramal Finance Limited, reflecting a strategic restructuring within the Piramal Group.

Trading Commencement

Following the allotment, Piramal Finance Limited's shares began trading on two major Indian stock exchanges:

• BSE Limited (BSE)
• National Stock Exchange of India Limited (NSE)

This dual listing is expected to provide investors with increased liquidity and trading options for Piramal Finance Limited's shares.

Key Stakeholders

The ownership structure of Piramal Finance Limited includes several prominent stakeholders:

• Ajay G. Piramal and various Piramal family trusts and entities hold significant stakes
• Anutham Realty Private Limited emerges as the largest shareholder, controlling 24.90% of the diluted share capital

Investor Meetings and Presentations

In a move to engage with the investment community, Piramal Finance Limited has announced a series of analyst and institutional investor meetings:

These meetings provide an opportunity for investors to gain insights into the company's strategies and financial performance.

Future Outlook

Piramal Finance Limited has set targets for its future growth:

• The company aims to double its Assets Under Management (AUM) in approximately 3 years
• It targets a Return on AUM (RoAUM) of over 3.00%, with an AUM-to-equity ratio of 4.5-5.0x
• The management is focused on achieving stable risk profiles and steady earnings

As Piramal Finance Limited embarks on this new phase as a separately listed entity, investors and market watchers will be keenly observing its performance and strategic moves in the competitive Indian financial services landscape.