Page 2 - Piramal Enterprises

NBFCs begin provisioning for AIF exposure after RBI tightens norms

Piramal to adjust Rs 3,164 cr; IIFL Finance sees Rs 161 cr impact

As RBI tightens rules, Piramal to set aside funds for AIF exposure

As per the RBI's direction, regulated entities must liquidate their investments in AIFs within 30 days should the fund invest in an existing borrower

Piramal Enterprises to adjust Rs 3,164 cr exposure to AIF in its financials

Move follows RBI directive limiting investments in AIFs to curb evergreening

Shadow lenders decline after RBI tightened norms for investments by banks

Indian Shadow lenders declined after the nation's central bank tightened norms for investments by banks and other regulated entities into alternative investment funds to plug lending loopholes.

Stocks to Watch today: Tata Motors, ZEE, Ashok Leyland, GIC, Aurobindo, HGS

Stocks to watch on Friday, November 10, 2023: Biocon, Hindustan Aeronautics, Hindalco, LIC, M&M, ONGC, SAIL and Tata Chemicals among prominent companies scheduled to announce Q2 results today.

Piramal plans to raise Rs 1,000 cr from its maiden NCD opening on Thursday

Piramal Enterprises Limited on Wednesday said it plans to raise Rs 1,000 crore from maiden issuance of Non Convertible Debentures (NCDs) to fund business growth. The tranche I comprises the base issue size of Rs 200 crore and a green-shoe option of up to Rs 800 crore, aggregating up to Rs 1,000 crore, which is within the shelf limit of Rs 3,000 crore. The issue opens for subscription on October 19 and closes on November 2, 2023 with an option of early closure as per the Securities and Exchange Board of India norms. According to Jairam Sridharan, MD, Piramal Capital & Housing Finance Ltd, 60 per cent of issue is reserved for high net-worth individuals and retail investors. The secured, rated, listed, redeemable, non-convertible debentures of the face value of Rs 1,000 each is proposed to be listed on BSE and NSE, with BSE being the designated stock exchange for the issue. The minimum application size is Rs 10,000 and thereafter in multiples of Rs 1,000. The issue has ...

IndiaRF invests Rs 525 crore in Ivy Health and Life Sciences Private Ltd

Financial advisors for this transaction included O3 Capital, representing IndiaRF, and Unaprime Investment Advisors, advising Ivy

Piramal-Bain investment arm acquires API biz of Ind-Swift for Rs 1,650 cr

The API business has a presence across the US, Japan, Korea, EU, Brazil, and India

RBI must seriously consider deposit licences for NBFCs: Ajay Piramal

"By the end of September, we will have approximately Rs 6000 crore of cash in the balancesheet, which is much more than the LCR requirements"

These four stocks turn ex-date for share buyback; slip up to 4%

Piramal Enterprises, KRBL, FDC and IndiaMART InterMESH turned ex-date for share buyback on Friday, falling in the range of 2 per cent to 4 per cent on the BSE in intra-day deals.

Piramal Enterprises logs consolidated net profit of Rs 509 crore in Q1

Piramal Enterprises will buy back its equity shares valued upto Rs 1,750 crore for effective utilisation of capital and creating long term value for stakeholders

Shriram stake sale helps Piramal Enterprises report Rs 509 crore profit

A one-time gain of Rs 855 crore from the sale of its stake in Shriram Finance helped Piramal Enterprises report Rs 509 crore consolidated net profit for the April-June quarter, barring which it would have been in deep red, according to a company statement. In the June 2022 quarter, the company booked a net profit of Rs 8,155 crore. And in the reporting quarter the same printed in at Rs 509 crore led by a gain of Rs 855 crore from the sale of its 8.34 per cent stake in Shriram Finance for Rs 4,820 crore, the company said in a statement. Chairman Ajay Piramal also announced a buyback of up to 1.4 crore equity shares, representing 5.87 per cent of the pre-buyback fully paid-up equity at Rs 1,250 a share, aggregating to Rs 1,750 crore, through the tender offer route. And the entire process is expected to be completed within 2 months. He further said the promoter and promoter group shall not participate in the buyback. The Rs 1250 a share offer is a premium of 25 per cent over the last .

Piramal Enterprises board approves buyback of 14 mn shares at Rs 1,750 cr

Piramal Enterprises on Friday said its board has approved a buyback of 1.4 crore shares at Rs 1,250 each, entailing an outgo of Rs 1,750 crore. The company's board has approved a buyback of up to 1.4 crore shares of face value of Rs 2 each, representing 5.87 per cent of the pre-buyback fully paid-up shares at a price of Rs 1,250 each, aggregating to Rs 1,750 crore through the tender offer route, the Mumbai-based company said in a regulatory filing. The promoter and promoter group shall not participate in the buyback, it added.

Piramal Enterprises surges 9% on plan to consider share buyback on July 28

Axis Capital estimates the company could go for a buyback of 8 per cent of the existing equity base. The action is positive for the stock and supportive of valuations, it said

Entity offloads Piramal Enterprises' shares worth Rs 575 cr via open market

An entity on Thursday offloaded shares of Piramal Enterprises for Rs 575 crore through open market transactions. According to the block deal data available with the BSE, SmallCap World Fund Inc sold a total of 61,09,068 shares of Piramal Enterprises 17 tranches. The shares were disposed at an average price of Rs 941.15 apiece, taking the aggregate transaction value to Rs 574.95 crore. Plutus Wealth Management, Tata Mutual Fund (MF), Bandhan MF BOFA Securities Europe SA, BNP Paribas Arbitrage and Segantii India Mauritius, among others were buyers of shares of Piramal Enterprises. In a separate transaction on BSE, New World Fund Inc offloaded more than 34.62 lakh shares of Piramal Enterprises for Rs 326 crore through an open market transaction, as per the bulk deal data. The shares were sold at an average price of Rs 941.15 per share, taking the transaction value to Rs 325.91 crore. Details of the buyers could not be ascertained. On Thursday, shares of Piramal Enterprises fell 1.0

Shriram Finance's long-term prospects intact as merger synergies play out

With one-off costs behind it, performance of NBFC should improve as merger synergies play out

Shriram Finance, Piramal Enterprises zoom 10% after huge block deals

According to media reports, Piramal Enterprises was planning to sell its entire 8.34 per cent stake in Shriram Finance via block deals on Wednesday.

After TPG, Piramal to sell its entire 8.34% stake in Shriram Finance

About 3.1 crore shares worth Rs 4,832 crore have been offered by the company to institutional investors

Piramal Enterprises loss widens to Rs 196 cr on dip in Shriram investment

Non-bank lender Piramal Enterprises on Friday reported a widening of loss to Rs 196 crore from the year-ago period's Rs 42 crore, driven by a dip in the value of its investments in Shriram Group. The company's chief executive Jairam Sridharan told reporters that if one were to exclude the mark-to-market impact of Rs 375 crore over the Shriram investments, the company's core operations would have been growing. The core net interest income came at Rs 1,128 crore, down 4 per cent from Rs 1,172 crore in the year-ago period. Sridharan said even though the lender's assets under management stayed broadly flat at over Rs 63,000 crore, it was able to achieve significant improvement on the loanbook diversification front, and retail and wholesale books are placed at even keel. This was made possible by a 49 per cent growth in retail assets, even as the wholesale book declined to Rs 29,000 crore from being at Rs 42,000 crore level in the year-ago period. Going forward, the lender will keep ..

Piramal Enterprises posts Q4 loss of Rs 196 cr on MTM hit of Rs 375 cr

Jairam Sridharan is the Managing Director, Piramal Capital & Housing Finance (PCHFL) told media that the loss on Shriram Investments has partly gone away after March 31, 2023