The board of directors of Piramal Enterprises, a diversified non-bank finance company (NBFC), has given approval for its merger with its wholly owned subsidiary, Piramal Capital & Housing Finance (PCHFL), which will be renamed Piramal Finance following the merger.

Economy Business

The board of directors of Piramal Enterprises, a diversified non-bank finance company (NBFC), has given approval for its merger with its wholly owned subsidiary, Piramal Capital & Housing Finance (PCHFL), which will be renamed Piramal Finance following the merger. Under the terms of the merger, shareholders of Piramal Enterprises will receive one equity share of Piramal Finance (PFL) for each share they hold in Piramal Enterprises, along with one NCRPS (non-convertible non-cumulative non-participating redeemable preference share) of Rs 67 of PFL, subject to approval from the RBI. The company anticipates that the merger process as a whole will be finalised within 9-12 months.


     

     

     

 

     


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