Piramal Finance Ltd approved the allotment of 82.94 lakh warrants to promoter group entity Nithyam Realty Private Limited on October 5, 2026, according to its BSE filing. The Piramal Finance warrants were allotted on a preferential basis, with aggregate consideration of approximately Rs 1,750.03 crore.

The company's Committee of Directors (Administration, Authorisation & Finance) approved the allotment at its meeting held that day. The filing names Nithyam Realty Private Limited as the subscriber for the entire 82,94,000 warrants covered by the disclosure and identifies it as a promoter group entity.

Piramal Finance disclosed the transaction under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

25% of aggregate consideration received

The company reported receiving approximately Rs 437.51 crore on the allotment date, representing 25% of the aggregate consideration. The filing gives the exact aggregate consideration as Rs 1750,03,40,000 and the amount received as Rs 437,50,85,000.

The distinction between these amounts is material to reading the disclosure: the aggregate consideration relates to the warrant allotment as a whole, while the receipt reported for October 5 covers one-quarter of that amount.

The disclosed securities are warrants. The supplied filing does not specify their conversion terms or an exercise schedule, and it does not state a proposed use for the funds received.

Approvals preceded the allotment

The October 5 decision followed the approval sequence set out in the exchange filing:

  • The board approved the proposal at its meeting on August 24, 2026.
  • Shareholders passed a special resolution on September 19, 2026, at an extraordinary general meeting.
  • NSE and BSE granted in-principle approvals on September 29, 2026.

The disclosure continues the company's earlier letters dated August 24 and September 19. The committee meeting began at 11:30 a.m. and concluded at 11:45 a.m.

The filing identifies Piramal Finance by BSE scrip code 544597 and NSE symbol PIRAMALFIN. Company Secretary Bipin Singh signed the communication, which also identifies the company's former name as Piramal Capital & Housing Finance Limited.