Piramal Finance Ltd's Committee of Directors (Administration, Authorisation & Finance) approved the allotment of 82.94 lakh warrants to promoter group entity 'Nithyam Realty Pvt Ltd' on a preferential basis. According to the company's exchange filing, the allotment aggregates approximately ₹1,750 crore, with the consideration received on the allotment date being about ₹437.50 crore. The warrants carry a right to subscribe to 1 equity share per warrant on receipt of amount at the rate of ₹5.00 per warrant (25% of total consideration), with the balance amount of ₹15.00 per equity share (75% of total consideration) received on conversion.
This warrant allotment comes alongside PFL's Committee of Directors' approval on September 28, 2026, for the issuance of non-convertible debentures (NCDs) of three years and 45 days tenor on private placement basis. The NCD issuance aggregates ₹2,000 crore, with the allotment date scheduled for October 8.
The secured, rated, listed, redeemable NCDs are being issued on a preferential basis with a base issue size of ₹500 crore. As reported by the company, the issuance includes a green shoe option to retain over-subscription of up to ₹1,500 crore. The coupon rate on the NCDs is 8.62 per cent, payable annually and on redemption date.
