Stock Report

Piramal Enterprises Limited invests Rs. 2000 crore in Piramal Capital and Housing Finance Ltd

Posted On : 2024-03-26 21:24:28( TIMEZONE : IST )

Piramal Enterprises Limited has invested Rs. 2,000 crore in Piramal Capital & Housing Finance Limited ('PCHFL'), a wholly owned subsidiary of the Company by way of subscription to rights issue ('Transaction').

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 FY21, FY22 and FY23 was Rs. 5,08,165 lakhs, Rs. 6,03,861 lakhs, and Rs. 6,59,178 lakhs, respectively.

Shares of Piramal Enterprises Limited was last trading in BSE at Rs. 858.70 as compared to the previous close of Rs. 861.20. The total number of shares traded during the day was 21336 in over 1058 trades.

The stock hit an intraday high of Rs. 868.05 and intraday low of 854.70. The net turnover during the day was Rs. 18360395.00.