PEL

to Merge with Piramal Finance 🔄

Merger Record Date: Piramal Enterprises Limited (

) has announced that the record date for its merger with Piramal Finance Limited (PFL) is September 23, 2025. On this day, trading in PEL shares on stock exchanges will be permanently halted. Share and Debt Transfer: As part of the merger, all shareholders of PEL will receive one equity share of PFL for every one share of PEL they hold. This 1:1 ratio is a key component of the merger scheme. In addition, all debt securities previously issued by PEL will be transferred to PFL. The company has clarified that this will not affect the existing debt securities of PFL, which will continue to be traded as usual. Regulatory Approvals and New Listing: Following the completion of the merger and the share allotment, PFL will apply for the listing of its new securities on the stock exchanges. Trading in the new PFL shares will only commence once all necessary regulatory approvals have been secured. Background and Legal Approval: The merger is part of a Composite Scheme of Arrangement, which received approval from the National Company Law Tribunal (NCLT) in Mumbai on September 10, 2025. This legal clearance paved the way for the company to set the record date and proceed with the merger.