Piramal Enterprises Limited (PEL) has announced that September 23, 2025 will be the record date for its merger with Piramal Finance Limited (PFL). From this date, PEL shares will be delisted from stock exchanges.
According to the approved merger scheme, shareholders of PEL as of the record date will receive one equity share of PFL for every share held in PEL (1:1 ratio). Additionally, all debt securities issued by PEL will be transferred to PFL.
Following the allotment, PFL will seek stock exchange approvals for listing its securities. Trading in the new shares will commence once the necessary regulatory clearances are obtained. The company clarified that the move does not affect the existing debt securities of PFL, which will continue to trade as usual.
PEL had earlier informed exchanges on September 11 and 16 about the merger developments. The National Company Law Tribunal (NCLT), Mumbai Bench, had approved the Composite Scheme of Arrangement on September 10, 2025, with the order uploaded the following day.
The merger is expected to streamline group operations under Piramal Finance, formerly known as Piramal Capital & Housing Finance Limited.
