Piramal Finance shares debut at 12% premium after merger with Piramal Enterprises

Diversified non-banking financial company (NBFC) Piramal Enterprises, which delisted in September 2025 following its merger with wholly owned subsidiary Piramal Finance, relisted on the stock exchanges on Friday, November 7.

The shares of Piramal Finance listed at ₹1,260 apiece on the NSE, which marks a 12% premium over the discovered price of ₹1,124.20 apiece.

The relisting did not involve an initial public offering (IPO).

The National Company Law Tribunal (NCLT) had on September 10 approved the merger of Piramal Enterprises with its wholly owned subsidiary, Piramal Finance.

Piramal Enterprises subsequently fixed September 23 as the record date for the merger.

"Shareholders of Piramal Enterprises on the record date will receive equity shares of Piramal Finance in a 1:1 ratio, as outlined in the merger scheme. All debt securities issued by Piramal Enterprises will also be transferred to Piramal Finance," the company said in a statement.

Anand Piramal has assumed the role of Chairman of Piramal Finance, following the absorption of the parent company, effective September 16, 2025.

Jairam Sridharan, Managing Director and Chief Executive Officer of Piramal Finance, said improved operating efficiencies, maturing businesses, and optimisation of technology and artificial intelligence would drive the next phase of profitable growth for the company.

Sridharan added that the non-banking financial company aims to achieve a 3 percent return on assets (RoA) target in the coming years.