Mumbai: Piramal Finance Limited announced on Thursday that its Board of Directors has approved a plan to raise funds up to ₹4,000 crore. This fundraising will be conducted through various types of securities and issuance methods.
Fundraising Details
The company plans to issue equity shares, convertible securities (including compulsory or optionally convertible preferential shares or debentures, warrants), non-convertible debentures with warrants, or any other equity-linked securities. These will be issued for cash or otherwise, as permitted under applicable law.
Issuance Methods
The fundraising can occur through qualified institutions placement(s), preferential allotment, private placement(s), rights issue, or any other method allowed by law. The company may also use a combination of these methods, with or without a green shoe option, across one or more tranches and issuances.
Shareholder Approval
This fund-raising initiative is subject to market conditions, receipt of necessary corporate and regulatory approvals. The company's board has also approved a postal ballot notice to seek the required shareholders’ approval for this proposal.
Q1 FY27 Financial Results
The board also approved the unaudited standalone and consolidated financial results for the quarter ended 30 June 2026. These results, along with a limited review report by joint statutory auditors, will be published in newspapers.
Board Meeting Concludes
The Board of Directors meeting commenced at 12:30 p.m. and concluded at 3:15 p.m. on 16 July 2026.
Disclaimer: This report is based on the company's filed financial results (standalone or consolidated, as applicable) and is intended solely for informational purposes. It does not constitute investment advice or a recommendation to buy, sell or hold any security.
