The company has completed the Rs 2,100 crore QIP.
The issue attracted strong interest from domestic mutual funds, including ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Kotak Mutual Fund, Quant Mutual Fund, Axis Mutual Fund, Motilal Oswal Mutual Fund, Tata Mutual Fund, Franklin Templeton Mutual Fund and Aditya Birla Sun Life Mutual Fund, the company said in a statement.
Participation also came in from leading global investors including BlackRock, Goldman Sachs Asset Management, and Eastspring Investments, it added.
As a part of QIP, 99,52,606 equity shares allotted at Rs 2,110 per share. The QIP opened on 24th August 2026 and closed on 28th August 2026.
“This capital raise marks an important milestone in our journey as we continue to build a diversified, retailled and technology-driven financial services institution. Over the past few years, we have expanded our reach across Bharat, broadened our product offerings, and embedded technology and AI into the way we serve customers, make decisions and manage risk,” Anand Piramal, Chairman, Piramal Finance, said in a statement.
Meanwhile, once the preferential warrants issue is completed, both transactions would amount to an equity infusion of about Rs 3,850 crore.
The capital raise will further strengthen the balance sheet and capital base, providing greater flexibility to pursue disciplined growth through diversified retail and granular wholesale lending while maintaining a strong capital buffer and prudent risk profile, the company said.
Nomura Financial Advisory and Securities (India) Private Limited, Motilal Oswal Investment Advisors Limited and JM Financial Limited acted as the Book Running Lead Managers to the QIP. Cyril Amarchand Mangaldas acted as legal advisers to the Company, while Trilegal and Linklaters Singapore Pte. Ltd. acted as legal advisers and international legal advisers to the Book Running Lead Managers, respectively.
