Piramal Finance Limited has initiated a postal ballot process to seek shareholder approval for the appointment of four new directors to its board. The company, formerly known as Piramal Capital & Housing Finance Limited, aims to strengthen its leadership team with a mix of executive and independent directors.

Proposed Appointments

The four proposed appointments include:

1. Ms. Shikha Sharma as Non-Executive Director
2. Ms. Anjali Bansal as Independent Director
3. Mr. Rajiv Mehrishi as Independent Director
4. Mr. Asheet Lalit Mehta as Independent Director

Voting Process

Piramal Finance has set up an e-voting system for shareholders to cast their votes on these appointments. The e-voting period is scheduled as follows:

The results of the postal ballot are expected to be announced by December 23, 2025.

Director Profiles

Shikha Sharma

Former CEO of Axis Bank with extensive experience in banking and insurance.

Anjali Bansal

Founding Partner of Avaana Capital and former Non-Executive Chairperson of Dena Bank.

Rajiv Mehrishi

Retired IAS officer who has served in key posts in both Union and Rajasthan governments.

Asheet Lalit Mehta

Senior Partner Emeritus of McKinsey & Company with deep expertise in financial services.

All proposed independent directors are set to serve for a term of five consecutive years, from September 24, 2025, to September 23, 2030, subject to shareholder approval.

The addition of these experienced professionals to Piramal Finance's board aims to bring diverse perspectives and expertise to guide the company's future strategies and operations in the financial services sector.

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.