Piramal Finance share price made a strong debut on the NSE, listing at ₹1,260 per share on Thursday, November 7, 2025, marking a 12% premium over the discovered price of ₹1,124.20 apiece.
The listing follows the company’s merger with its parent, Piramal Enterprises Ltd (PEL), signaling a new chapter for the group’s financial services business.
Piramal Finance Listing Highlights
The Piramal Finance share price opened above expectations, signaling optimism among investors despite a volatile broader market. The listing at ₹1,260 represents a healthy start, with investors betting on the company’s strategic realignment and growth potential post-merger.
Trading in Piramal Enterprises shares had been halted since September 23, 2025, after it fixed the record date for the merger. Before the consolidation, Piramal Finance operated as a wholly-owned subsidiary of Piramal Enterprises, serving retail and institutional lending clients across India.
Details of the Piramal Finance: Piramal Enterprises Merger
The National Company Law Tribunal (NCLT) approved the merger of Piramal Enterprises and Piramal Finance on September 10, 2025. The restructuring aimed to simplify the group’s structure and strengthen its position as a standalone non-banking financial company (NBFC).
As per the merger scheme, shareholders of Piramal Enterprises (PEL) received equity shares of Piramal Finance (PFL) in a 1:1 ratio on the record date. All debt securities issued by PEL have also been transferred to PFL, ensuring continuity of obligations and a smooth transition.
Following the merger, Anand Piramal has assumed the role of Chairman of Piramal Finance, effective September 16, 2025, overseeing the company’s strategic and growth direction.
Piramal Finance Leadership Outlook: Next Phase of Growth
Jairam Sridharan, Managing Director and CEO of Piramal Finance, shared that the company’s next growth phase will be driven by operating efficiencies, business maturity, and technological optimization, including the use of artificial intelligence (AI) to enhance performance and profitability.
Sridharan also revealed the firm’s target to achieve a 3% Return on Assets (RoA) in the coming years, underscoring a focus on sustainable and profitable expansion.
Reflecting on the company’s transformation journey, he said:
It’s been a very transformational five years. We transitioned from being a wholesale lender to a retail-focused NBFC, something quite rare in Indian financial services, especially at this scale.
The CEO credited the success to favorable market conditions and strong support from the Piramal Group’s promoter family. He also highlighted the company’s evolution post its Dewan Housing Finance Ltd (DHFL) acquisition:
In September 2021, after the Dewan Housing acquisition, we had a retail book of ₹20,000 crore. Today, it exceeds ₹75,000 crore. The retail plus new wholesale business has grown 4x in four years. We broke even in July 2023, just two years after the acquisition.
What Lies Ahead for Piramal Finance?
The merger is expected to streamline operations, improve capital efficiency, and enhance the brand’s visibility in the NBFC space. With a growing retail loan portfolio, robust balance sheet, and digital-first strategy, Piramal Finance aims to strengthen its presence in retail and small business lending segments.
Analysts believe the company’s focus on AI-driven underwriting, customer acquisition, and risk management could help it sustain profitable growth in the medium to long term.
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