Funds raised through three tranches will be used for onward lending, refinancing, debt repayment and short-term investments, says the Piramal Enterprises NBFC arm
The facility carries a tenor of three years and is fully hedged, ensuring mitigation of foreign exchange and interest rate risks, the press release added
Investment banking sources said the Piramal group is open to acquisitions, though it is not involved in any talks
The diversified non-banking finance company (NBFC) aims to increase its borrowing from international sources to 10 to 12 per cent over the next 2-3 years, up from the current 4 per cent
Electoral bonds: SBI has issued electoral bonds worth Rs 16,518 crore in 30 tranches since the inception of the scheme in 2018
Azad Engineering Ltd has received capital markets regulator Sebi's go-ahead to raise Rs 740-crore through an initial public offering (IPO). The Hyderabad-based firm, which filed its preliminary IPO papers in September, obtained the regulator's observation letter on December 5, an update with the Securities and Exchange Board of India (Sebi) showed on Thursday. In Sebi's parlance, obtaining its observation letter means its go-ahead to float an IPO. According to the draft papers, the company's IPO comprises a fresh issue of up to Rs 240 crore and an offer for sale (OFS) of equity shares aggregating up to Rs 500 crore by a promoter and investors. The OFS consists of sale of equity shares aggregating up to Rs 170 crore by promoter Rakesh Chopdar, Rs 280 crore by Piramal Structured Credit Opportunities Fund, and Rs 50 crore by DMI Finance. Proceeds from the fresh issue will be used for funding capital expenditure of the company, payment of debt, and general corporate purposes. Azad ..
Capital markets regulator Sebi on Monday slapped fines totalling Rs 20 lakh on two former promoters of Dewan Housing Finance Corp Ltd (DHFL) for flouting disclosure norms. Individually, the regulator levied a penalty of Rs 10 lakh each on Kapil Wadhawan and Dheeraj Wadhawan, who were promoters of DHFL (now known as Piramal Finance). The order came after Sebi conducted an investigation into the transfer of shares held by DHFL in DHFL Pramerica Life Insurance (erstwhile DLF Pramerica Life Insurance) to its wholly-owned subsidiary DHFL Investments and other related transactions. The investigation period was from February-March 2017. In its 45-page order, Sebi's Adjudicating Officer Prasanta Mahapatra said, "I find that complete and adequate information was not disclosed to the shareholders of the company as observed from the postal ballot notice and draft share purchase agreement (SPA), which was the responsibility of the noticee (Kapil Wadhawan and Dheeraj Wadhawan)". The postal bal
In a Q&A, Jairam Sridharan dwells on his company's proposed retail thrust and the challenges facing the NBFC sector
Piramal Capital & Housing Finance Ltd., (Piramal Finance), the wholly-owned subsidiary of Piramal Enterprises Ltd ('PEL'), on Thursday announced the opening of its 'Innovation Lab' at Bengaluru, where it aims to have a team of over 300 professionals for various tech and business intelligence positions by the end of financial year 2022-23. MD, Piramal Capital & Housing Finance Ltd., Jairam Sridharan said Piramal Finance is rapidly expanding its footprint in Tier II and III cities of 'Bharat' and the innovation centre here is a significant element of its growth strategy. "The financial services industry is rapidly evolving, and this initiative will accelerate the development of next-generation lending solutions and analytics that align with how consumers are reimagining the industry. Nurturing innovation is a part of our core ethos, and the centre will help us to create a vibrant ecosystem of fintechs, start-ups and tech innovators", he was quoted as saying in a company ...
Adani Finserve, KKR, Piramal Finance and Poonawala Finance are among 14 prominent firms that have expressed interest to acquire Reliance Capital Ltd, promoted by Anil Ambani Group, sources said
The company had posted a net profit of Rs 799 crore for the same period last fiscal year
63 Moons Technologies had moved tribunal over the low valuation ascribed to assets worth Rs 40,000 cr, with DHFL lenders getting nothing if Piramal group recovered from these loans later
Keki Dadiseth, Dr. R.A. Mashelkar and Prof. Goverdhan Mehta, independent directors on the board of Piramal Enterprises have resigned, the company informed BSE
The company has identified projects in the Mumbai metropolitan region, Bengaluru and Chennai
By 2020, Piramal Enterprises expects the loan book for the home loan business to reach Rs 150 billion
Plans to achieve Rs 15,000 crore loan book by 2020
The firm has provided funding to sectors as diverse as automotive dealerships, pharma, manufacturing
Khushru Jijina, the MD of Piramal Finance, said that this is second round of funding to ACME group
This has been done across residential, commercial projects in Bengaluru, Chennai and Hyderabad