Piramal Finance QIP: ₹2,100 crore fundraise opens at ₹2,102.65 floor price

Mumbai | 25 August 2026 

Piramal Finance, a large non-banking financial company, opened a qualified institutional placement (QIP) to raise up to ₹2,100 crore on 24 August 2026. The company’s committee of directors approved the floor price for the issue at ₹2,102.65 per equity share, according to an exchange filing. 

What is the floor price for the Piramal Finance QIP? 

The committee approved a floor price of ₹2,102.65 per equity share and fixed 24 August 2026 as the relevant date for the issue. Piramal Finance had already received shareholder approval for the QIP through a special resolution passed via postal ballot on 17 August 2026, ahead of the committee’s formal approval. 

“We wish to inform you that the committee has fixed the ‘relevant date’ for the purpose of the issue as 24 August, 2026, and the floor price in respect of the issue is ₹2,102.65 per share,” the company said. 

Alongside the QIP, the board used the same 24 August meeting to approve a separate capital-raising route through warrants. 

What did the board approve for warrants? 

Piramal Finance‘s board also approved a preferential issue of warrants worth up to ₹1,750.03 crore to promoter group entity Nithyam Realty Private Limited, with which it has an investment agreement. 

The board approved up to 82,94,000 warrants of ₹2 face value each, at an issue price of ₹2,110 per warrant. This issue price is ₹24.94 higher than the floor price of ₹2,085.06 set for the preferential issue. 

Subscribers will pay 25% of the issue price per warrant at the time of subscription, with the remaining 75% payable on exercise of the warrants into equity shares. The warrants carry a tenor of 18 months from the date of allotment and will be exercised in one or more tranches during this period. Any unconverted warrants will lapse, and the amount paid by the subscriber on such warrants will be forfeited, the company said. 

Has Piramal Finance sought fundraising approval before? 

Piramal Finance has sought fundraising approval before. On 16 July 2026, while reporting its June-quarter earnings, Piramal Finance’s board had approved raising funds of up to ₹4,000 crore. The 24 August QIP forms part of this approved fundraising plan. 

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