Piramal Finance approves Rs 15,000 crore NCD issuance and announces merger scheme

Kinjal — Fri, 27 Mar 2026 10:13:28 +0000

Piramal Finance Limited’s Board of Directors has approved a significant financial strategy involving the issuance of Redeemable Non-Convertible Debentures (NCDs) and a scheme of amalgamation. The decisions were made during the board meeting held on 27th March 2026.

The company plans to issue NCDs on a private placement basis, with a total size of up to ₹15,000 crore. This issuance will occur in one or more tranches between 1st April 2026 and 31st March 2027, as decided by the Committee of Directors. The move is aimed at raising capital to support the company’s financial strategies and operations.

In addition to the NCD issuance, the board also approved a scheme of amalgamation involving Piramal Finance Limited and its wholly-owned subsidiaries: Piramal Corporate Tower Private Limited, Piramal Agastya Offices Private Limited, and DHFL Investments Limited. The amalgamation is designed to simplify the group structure, optimise capital allocation, strengthen the balance sheet, and enhance operational and financial efficiency.

The proposed merger is subject to the approval of the National Company Law Tribunal (NCLT), the Insurance Regulatory and Development Authority of India, shareholders, creditors, and other regulatory authorities. Once effective, the equity shares held by Piramal Finance in the subsidiaries will be cancelled, with no new consideration issued.

Furthermore, the board acknowledged the resignation of Mr. Gautam Bhailal Doshi, a Non-Executive Independent Director, effective from the close of business on 27th March 2026. Mr. Doshi resigned due to personal reasons, and the board expressed its appreciation for his contributions.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Kinjal and reviewed by Markets Desk before publication.

NCD issuance | Business Upturn

Piramal Finance approves Rs 15,000 crore NCD issuance and announces merger scheme