Piramal Finance trades higher on listing day after merger with PEL

Piramal Finance made its debut on the BSE today at Rs 1,270 per share, following its merger with Piramal Enterprises Limited (PEL).

The stock later gained ground to trade at Rs 1,305, marking a strong start for the newly listed financial services entity.

PEL shares last traded at Rs 1,124.60 on 22 September 2025, before being suspended ahead of the merger record date. Shareholders of PEL received equity shares of Piramal Finance in a 1:1 ratio.

The merger combines the operations of PEL and its erstwhile subsidiary, Piramal Capital & Housing Finance, under a single platform. All PEL debt securities have been transferred to Piramal Finance.

The integration aims to streamline operations and create a stronger, more diversified non-banking financial company (NBFC) under the Piramal brand.

In a media interview, managing director and CEO Jairam Sridharan described the merger as the beginning of Piramal 2.0, positioning the firm as a fast-growing, technology-led retail lender focused on semi-urban India. He said the company is targeting a Return on Assets (RoA) of 3% in the coming years, supported by efficiency gains and AI adoption.

For Q1 FY26, Piramal Enterprises reported a 22% year-on-year rise in consolidated total AUM to Rs 85,756 crore, with net profit up 52% to Rs 276 crore. The company operates 517 branches across 26 states and maintained retail 90+ DPD (Days Past Due) at 0.8%, reflecting strong asset quality.

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