Piramal Finance directors okay ₹1,750-cr preferential allotment of warrants to promoter group
82.94 lakh warrants of the company will be allotted to promoter group entity Nithyam Realty
On Monday, the Committee of Directors at Piramal Finance Ltd approved the allotment of 82.94 lakh warrants to the promoter group entity 'Nithyam Realty Pvt Ltd' on a preferential basis. The total value of the allotment is approximately ₹1,750 crore, with the consideration received on the allotment date being around ₹437.50 crore, as per the company's exchange filing.
This comes after the Committee of Directors had previously approved the issuance of non-convertible debentures (NCDs) of three years and 45 days tenor on a private placement basis, aggregating ₹2,000 crore on September 28, 2026. The NCDs are secured, rated, listed, redeemable, and payable at a coupon rate of 8.62 per cent annually, with the option to retain over-subscription of up to ₹1,500 crore through a green shoe option. The allotment of the NCDs is scheduled for October 8, 2026.
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