Piramal Finance Approves Preferential Issue of Warrants to Promoter Group Entity
Piramal Finance Limited, formerly Piramal Capital & Housing Finance Limited, announced that its Board of Directors approved the issuance of warrants to Nithyam Realty Private Limited, a Promoter Group entity. The decision was made during a Board meeting held on Monday, August 24, 2026.The preferential issue involves the issuance of up to 82,94,000 warrants, each granting the holder the right to subscribe to one fully paid-up equity share of the Company. The total aggregate consideration for the warrants is set at up to ₹ 1,750.03 crore, with an issue price of ₹ 2,110 per warrant. The equity shares carry a face value of ₹ 2 each.
The key details of the preferential issue and the investor are provided below:
| Name of the Subscriber | Category | Aggregate Consideration | No. of Securities |
|---|---|---|---|
| Nithyam Realty Private Limited | Promoter Group | ₹ 1750.03 crore | 82,94,000 warrants |
In addition to the issuance, the Board approved entering into an Investment Agreement with Nithyam Realty Private Limited, the subscriber.
The company further announced that it will convene an Extra-ordinary General Meeting (EGM) on Saturday, September 19, 2026, to seek shareholders' approval for the preferential issue.
Investment and Warrant Terms
The warrants granted under the preferential issue have a tenor of 18 months from the date of their allotment and are subject to being exercised in one or more tranches during this period. The transaction involves the issuance of Warrants at an issue price of ₹ 2,110 per Warrant, which includes a premium of ₹ 2,108 per Equity Share.Details regarding the post-preferential issue shareholding of Nithyam Realty Private Limited, assuming full exercise of the warrants, are as follows:
| Investor Name | Post-preferential issue shareholding (on fully diluted basis) |
|---|---|
| Nithyam Realty Private Limited | 3.53% |
The approved issue price of ₹ 2,110 per Equity Share (upon exercise of the Warrant) is noted to be ₹ 24.94 higher than the floor price, which was determined at ₹ 2,085.06 per Equity Share (upon exercise of the Warrant).
The Investment Agreement, which was executed with the Subscriber, is intended to record the terms and conditions of the preferential issue. The agreement specifies that there are no special rights granted to the Subscriber. The Warrants, and the Equity Shares allotted upon their exercise, are subject to a lock-in period as specified under Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations.
PIRAMALFIN Stock Price Movement
As of 10:47 AM, shares of Piramal Finance Limited are slipping by 0.72% in live trading, with the stock currently trading at ₹2165.2. The equity has seen a daily volume of 57,190 shares and is trading within an intraday range established between ₹2160.1 and ₹2186.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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