Piramal Finance Ltd

Piramal Finance Limited was originally incorporated and registered as Dewan Housing Finance & Leasing Company Limited' on April 11, 1984, as a public limited company. The name of the Company was subsequently changed to Dewan Housing Development Finance Limited' on September 26, 1984, again to Dewan Housing Finance Corporation Limited' on August 25, 1992, to Piramal Capital & Housing Finance Limited' on November 3, 2021, and further to Piramal Finance Limited' on March 22, 2025, and a fresh incorporation certificate was issued by the Registrar of Companies, Maharashtra at Mumbai. Piramal Finance is the flagship diversified non-banking financial services company of the Piramal Group, which is one of India's leading business conglomerates with a legacy spanning 45 years. The Promoter, Ajay G. Piramal and the Piramal Group entities, have interests across sectors such as financial services, pharmaceuticals, real estate and investments. On May 8, 2024, the Board of Directors of PEL and the Company approved a Scheme of Arrangement to merge PEL with the Company. Company does not meet the requisite Principal Business Criteria' prescribed by the RBI under the Master Direction - Non- Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021, to continue operating as an HFC. Company received its NBFC-ICC license on April 4, 2025. Piramal Enterprises Limited (PEL) has amalgamated with the Company effective from September 16, 2025, pursuant to the Scheme. In terms of consideration, 2,66,77,700 equity shares of face value of Rs 2 each have been allotted by the Company. Prior to the Scheme becoming effective, Company was a wholly owned subsidiary of Piramal Enterprises Limited. As part of the insolvency process of Dewan Housing Finance Corporation Limited (DHFL), erstwhile Piramal Capital & Housing Finance Limited (ePCHFL) reverse merged into DHFL with effect from September 30, 2021 and the name of the surviving entity was changed to Piramal Capital & Housing Finance Limited' with effect from November 3, 2021. Company is registered with the RBI as a non-deposit taking NBFC-ICC on April 4, 2025. Prior to being registered as an NBFC-ICC, PFL was registered as an HFC with the RBI. Company is now engaged in the business of providing diversified financial services. The business comprised of housing finance, corporate lending, retail lending, and real estate lending. It also offer products such as home loans, loans against property, used car loans, personal loans, and small business loans. Company's AUM have crossed Rs 1 lakh crore in FY26. The Scheme of Amalgamation amongst the Company, Piramal Corporate Tower Private Limited, Piramal Agastya Offices Private Limited and DHFL Investments Limited, Wholly-owned subsidiaries and their respective shareholders and creditors, is subject to receipt of necessary regulatory approvals in the Board Meeting held on March 27, 2026. The Company sold 15% of its equity stake in Shriram Life Insurance (SLI) for Rs 600 Crore to monetize the non-core assets and relocate capital towards core lending business in FY26. Company has secured DFI funding of USD 350 million from International Finance Corporation (IFC) and the Asian Development Bank (ADB). It raised USD 400 million External Commercial Borrowings (ECBs) with prior participation from 5 lending international and domestic banks during the year 2026. Company has scaled up the retail-led AI-Native NBFC by a rise in AUM of Rs 1,01,230 crore in FY26.