Overview
- Piramal Finance began trading on the NSE at Rs 1,260, a 12% premium to the discovered price of Rs 1,124.20, with shares admitted to the exchange’s T Group.
- Shareholders of Piramal Enterprises received Piramal Finance stock in a 1:1 swap, and all PEL debt securities were transferred to the merged entity.
- Piramal Enterprises’ shares have been suspended from September 23 as the merger process moved to completion following NCLT approval on September 10.
- CEO Jairam Sridharan outlined plans to drive returns through operating efficiencies, business maturity, and AI-led technology optimization, targeting 3% RoA in coming years.
- The company highlights a shift from wholesale to retail lending, with the retail book rising from about Rs 20,000 crore in September 2021 to over Rs 75,000 crore and business breaking even in July 2023.