Piramal Finance shares hit 52-week high on raising ₹2,100 crore via QIP; check details

The stock surged as much as 1.55% to hit a 52-week high of ₹2,313.70 apiece on the National Stock Exchange (NSE) on Monday, August 31, compared with the closing price of ₹2,278.40 apiece on Friday. It touched a year’s low of ₹1,260 per unit on November 7, 2025.

At around 10:47 AM, the scrip was trading 0.86% higher at ₹2,298.10 per equity share. It has advanced 5% in the past week and 12% over the month. On a year-to-date (YTD) basis, it has declined 40%.

Details of the QIP

According to a regulatory filing, the QIP saw strong participation from a diverse mix of leading domestic and international institutional investors.

The issue attracted strong interest from reputed 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 QIP also saw participation from leading global investors, including BlackRock, Goldman Sachs Asset Management and Eastspring Investments.

Piramal Finance allotted 99,52,606 equity shares at ₹2,110 per share, aggregating to approximately ₹2,100 crore, with the QIP opening on August 24, 2026 and closing on August 28, with the issue completing as scheduled.

Following the allotment of the new equity shares, the company’s paid-up equity share capital stood increased to ₹47.33 crore, comprising 23,66,30,306 equity shares of ₹2 each, from ₹45.34 crore, made up of 22,66,77,700 shares of ₹2 each.

The company said that 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.

While Cyril Amarchand Mangaldas acted as legal advisers to the company, Trilegal and Linklaters Singapore Pte, Ltd acted as legal advisers and international legal advisers to the book-running lead managers, respectively.

Commenting on the transaction, Anand Piramal, Chairman, Piramal Finance, said: “This capital raise marks an important milestone in our journey as we continue to build a diversified, retail-led 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. Most importantly, we have had the privilege of serving over 6 million customers and enabling more than 2.5 million high-impact loans across affordable housing, small businesses and underserved communities.”

Piramal Finance board approves fund raiser via preferential warrant issue

In a separate regulatory filing dated August 24, 2026, the company’s board of directors approved a preferential issue of warrants worth around ₹1,750 crore to one of the promoter group entities, subject to shareholders, statutory and regulatory approvals.

More specifically, the board approved the issuance of 82.94 lakh warrants, each carrying a right to subscribe to one fully paid-up equity share of the company having a face value of ₹2 each, at an issue price of ₹ 2,110 per warrant, including a premium of ₹ 2,108 per equity share, with a face value of ₹2 each.

Once completed, the two transactions together will entail an equity capital infusion of around ₹3,850 crore.

“The capital raise will further strengthen the company’s 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,” Piramal Finance further stated.

Piramal Finance has a total market capitalisation of ₹52,117.74 crore as of August 31, 2026, according to data on the NSE.