Piramal Finance | Business Upturn

One 97 Communications converts ₹197 crore loan into equity shares of subsidiary

Yash Agarwal — Thu, 16 Apr 2026 15:37:38 +0000

One 97 Communications Limited has approved the conversion of a loan and unpaid interest amounting to approximately ₹197 crore into equity shares of its step-down subsidiary, First Games Technology Private Limited (FGTPL). This decision follows the discontinuation of FGTPL’s online real money gaming business due to regulatory changes. As a result of this conversion, One 97 Communications‘ shareholding in FGTPL will increase from 55% to 82.6% on a fully diluted basis. The conversion involves the issuance of 19,67,70,855 equity shares of ₹10 each, at par, to the company.

FGTPL, which was primarily engaged in online real money gaming, ceased its operations on August 25, 2025, following the implementation of ‘The Promotion and Regulation of Online Gaming Act, 2025’. The company had previously impaired its equity and loan investment in FGTPL.

In addition to the conversion, One 97 Communications has also approved a Default Loss Guarantee of up to ₹90 crore on loans disbursed by its lending partner, Piramal Finance Limited. This move aligns with the company’s business model of facilitating loan distribution, where it earns revenue through sourcing and collection fees.

The conversion of the outstanding loan into equity shares is expected to be completed by April 30, 2026. No fresh capital infusion is involved in this transaction, and it does not require any regulatory approvals.

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

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.

One Point One Solutions secures Rs 60 crore contract with Piramal Finance

Arunika Jain — Fri, 20 Mar 2026 06:52:46 +0000

One Point One Solutions Limited has announced the acquisition of a significant customer experience (CX) operations contract valued at ₹60 crore from Piramal Finance Limited. This three-year engagement is set to enhance One Point One Solutions‘ presence in the BFSI sector, a key growth area for the company.

Under the terms of the contract, One Point One Solutions will manage both inbound and outbound customer experience operations for Piramal Finance. The services will support customer service and sales processes across Piramal Finance’s range of financial products. The operations will be conducted from the company’s delivery centres located in Mumbai and Chennai, leveraging its extensive expertise in handling large-scale CX programmes for financial institutions.

This contract not only provides strong revenue visibility for One Point One Solutions but also reinforces its position as a trusted partner for leading financial institutions aiming to scale customer engagement and operational efficiency. The company’s multi-city delivery model and deep expertise in customer lifecycle management position it well to support Piramal Finance’s growth ambitions while maintaining high service quality and customer satisfaction.

The contract with Piramal Finance is expected to add momentum to One Point One Solutions’ growth trajectory as it continues to expand its footprint in high-growth sectors and strengthen long-term partnerships with leading enterprises.

Piramal Finance Limited is a retail-led upper layer NBFC with a pan-India presence, managing assets under management of over ₹96,000 crore. The company offers a range of retail and wholesale lending products and operates a distinctive phygital model combining high-touch engagement with high-tech capabilities.

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