The issue comprises 9.9 million to 10.5 million equity shares, with the indicative issue price ranging from ₹2,000 per share at the lower end to ₹2,110 per share at the upper end.
Based on the indicative price range, the issue represents a discount of 8.43% at the lower end and 3.39% at the upper end to the stock’s closing price on August 24.
The Committee of Directors (Administration, Authorisation & Finance) approved the opening of the issue, the floor price and the preliminary placement document at its meeting on August 24.
The company had received shareholder approval for the fundraise through a special resolution passed via postal ballot on August 17.
The company has fixed August 24 as the relevant date for the issue. The floor price of ₹2,102.65 per share has been determined in accordance with the pricing formula prescribed under the SEBI ICDR Regulations.
Promoter entity to invest up to ₹1,750 crore
The QIP comes on the same day that Piramal Finance’s board approved a preferential issue of warrants worth up to ₹1,750.03 crore to promoter group entity Nithyam Realty Private Limited.
The company plans to issue up to 82.94 lakh warrants at ₹2,110 each. Each warrant will give the holder the right to subscribe to one fully paid-up Piramal Finance equity share with a face value of ₹2.The preferential issue will be carried out through a private placement and remains subject to statutory and regulatory approvals, including shareholder approval.
Together, the QIP and proposed preferential issue could raise as much as ₹3,850 crore for Piramal Finance.
Piramal Finance shares closed 0.14% higher at ₹2,183.80 on August 24, gaining ₹3 from the previous close.
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First Published: Aug 24, 2026 9:58 PM IST
