IPO
NBFC Piramal Finance to raise Rs 3,850-Cr through QIP, promoter infusion
Mumbai-based Piramal Finance is to raise INR 3,850 crore in growth capital through a qualified institutional placement (QIP) and a promoter infusion. The firm will raise INR 2,100 crore via the QIP and secured board approval for an additional INR 1,750 crore through a preferential issue of warrants to promoter group entities.Founded and led by Anand Piramal, the company focuses on retail and wholesale lending, including affordable housing and small business loans. It claims to have served over 60 lakh customers and facilitated more than 25 lakh high-impact loans. The company plans to use the capital to strengthen its balance sheet and pursue growth across its diversified lending segments.
For FY25, Piramal Finance had reported about INR 8,179 Cr in Operating Income and about INR 52 Cr in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
