Piramal Finance Ltd. Approves Amalgamation Scheme and NCD Issuance, Announces Director Resignation
Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) announced on March 27, 2026, that its Board of Directors approved a scheme of amalgamation and the issuance of redeemable, non-convertible debentures. The Board also acknowledged the resignation of a Non-Executive Independent Director.The approved scheme of amalgamation involves Piramal Finance Limited, Piramal Corporate Tower Private Limited, Piramal Agastya Offices Private Limited (formerly PRL Agastya Private Limited), and DHFL Investments Limited – all wholly-owned subsidiaries of the Company. The amalgamation aims to simplify the group structure, optimize capital allocation, strengthen the balance sheet, and enhance operational and financial efficiency. The scheme is subject to the sanction of the National Company Law Tribunal, Mumbai Bench, and other necessary approvals.
The Company plans to issue Redeemable, Non-Convertible Debentures on a private placement basis, up to Rs. 15,000 crore during the period from April 1, 2026, to March 31, 2027, in one or more tranches. The details of the debenture issuance will be determined by the Committee of Directors (Administration, Authorization & Finance). The debentures are expected to be listed on the BSE or NSE.
Gautam Bhailal Doshi (DIN: 00004612) resigned as Non-Executive Independent Director, effective March 27, 2026, due to personal reasons. The Board expressed its appreciation for Mr. Doshi’s contributions during his tenure.
Financial Details:
Below is a summary of key financial data as of December 31, 2025, for Piramal Finance Limited and its subsidiaries:
| Company | Turnover (Rs. in crore) | Total Assets (Rs. in crore) |
|---|---|---|
| Piramal Finance Limited (PFL) | 8,413.70 | 1,04,550.72 |
| Piramal Corporate Tower Private Limited (PCTPL) | 62.83 | 939.03 |
| Piramal Agastya Offices Private Limited (PAOPL) | 76.59 | 827.74 |
| DHFL Investments Limited (DIL) | - | 1,020.10 |
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