Piramal Finance hits ₹30,000 cr market cap on debut after PEL merger

Shares of Piramal Finance, which debuted on BSE after its merger with PEL, hit the upper circuit at Rs 1,333.45, valuing the NBFC at over Rs 30,000 crore

Non-banking financial company (NBFC) Piramal Finance, which listed on stock exchanges on Friday, achieved a market capitalisation of around Rs 30,000 crore. The listing followed the merger of Piramal Enterprises Limited (PEL) with its wholly owned subsidiary, Piramal Finance Limited, creating a unified, retail-focused technology-led NBFC. PEL shares were delisted in October.

 

The shares opened at Rs 1,260 on the BSE and quickly rose 5 per cent to hit the upper circuit at Rs 1,333.45 apiece, closing at the same level. At the close of trade, the company’s market capitalisation stood at Rs