Piramal Enterprises has invested Rs 1,000 crore in Piramal Capital & Housing Finance (PCHFL), a wholly owned subsidiary of the Company by way of subscription to rights issue.
PCHFL will be utilizing the aforesaid investment towards business/ general corporate purposes. There is no change in the shareholding percentage of the Company in PCHFL pursuant to the aforesaid investment. The Transaction being between the holding company and its wholly owned subsidiary, it is exempt from the purview of related party transactions. The interest of the promoter/ promoter group/ group companies of the Company is only to the extent of PCHFL being a wholly owned subsidiary.
PCHFL is an existing wholly owned subsidiary of the Company and its turnover for FY22, FY23 and FY24 was Rs 6,03,861 lakh, Rs 6,59,178 lakh and Rs 6,66,356 lakh, respectively.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.
