Piramal Finance Lists at 12% Premium at Rs 1,260 Post Merger With Piramal Enterprises
Mumbai, November 7, 2025 – Piramal Finance made a strong debut on the stock exchanges today, listing at a 12% premium following its merger with Piramal Enterprises Limited (PEL). The shares opened at ₹1,260 on the National Stock Exchange (NSE), a significant jump from the discovered price of ₹1,124.20 per share. On the Bombay Stock Exchange (BSE), the shares commenced trading at ₹1,270.
The listing marks a new chapter for Piramal Finance, which was previously a wholly-owned subsidiary of Piramal Enterprises. The merger, which involved a 1:1 share swap ratio for Piramal Enterprises shareholders, aims to consolidate the financial services business under a single listed entity. All of PEL's debt securities have been transferred to Piramal Finance.
The positive market response underscores investor confidence in the newly formed entity's prospects within the financial services sector. Early trading saw the stock gain further ground, trading at ₹1,305, reinforcing a strong start for the company. At 10:00 am, shares traded at ₹1,300 on both the NSE and BSE.
The company aims to leverage technology and focus on retail lending in semi-urban India. Jairam Sridharan, Managing Director and CEO, has termed the merger as the beginning of "Piramal 2.0", with the firm targeting a Return on Assets (RoA) of 3% in the coming years through efficiency gains and the adoption of AI.
In the first quarter of FY26, Piramal Enterprises reported a 22% year-on-year increase in consolidated total Assets Under Management (AUM) to ₹85,756 crore, alongside a 52% rise in net profit to ₹276 crore. Piramal Finance has a wide network of 517 branches across 26 states. The company reported strong asset quality, with retail 90+ Days Past Due (DPD) at 0.8%.
The company's performance in the coming days and weeks will be closely monitored by investors and market analysts as it establishes itself as a standalone entity on the stock exchanges. Stakeholders are keen to observe how the restructured entity navigates the competitive financial services sector and delivers value to its shareholders.
