Piramal Finance Shares Hit 52-Week High After NBFC Completes Rs 2,100-Crore QIP; BlackRock, Goldman Sachs Among Investors

Piramal Finance shares touched a fresh 52-week high on Monday, August 31, after the NBFC completed a ₹2,100-crore qualified institutional placement (QIP), bringing fresh equity into the company as it looks to support its growth plans.

The stock rose as much as 1.55% to ₹2,313.70 on the NSE during the session. At around 2:32 pm, it was trading at ₹2,274.60, down 0.17% from Friday's close of ₹2,278.40.

Piramal Finance shares have gained around 5% over the past week and 12% over the last month. On a year-to-date basis, however, the stock is down 40%. It had touched a 52-week low of ₹1,260 on November 7, 2025.

Piramal Finance QIP: Key Details

The QIP opened on August 24 and closed on August 28. The company allotted 99,52,606 equity shares at ₹2,110 per share, raising approximately ₹2,100 crore.

The issue drew participation from several leading 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.

Global investors including BlackRock, Goldman Sachs Asset Management and Eastspring Investments also participated in the issue.

Following the allotment, Piramal Finance's paid-up equity share capital increased to ₹47.33 crore from ₹45.34 crore. The capital now comprises 23,66,30,306 equity shares of ₹2 each, compared with 22,66,77,700 shares earlier.

Nomura Financial Advisory and Securities (India), Motilal Oswal Investment Advisors and JM Financial acted as the book-running lead managers.

Piramal Finance's ₹3,850-Crore Capital Raise

The QIP is part of a broader capital-raising exercise by Piramal Finance.

The company's board had approved a preferential issue of 82.94 lakh warrants worth around ₹1,750 crore to a promoter group entity on August 24. The proposal is subject to shareholder, statutory and regulatory approvals.

Each warrant carries the right to subscribe to one fully paid-up equity share with a face value of ₹2. The issue price has been fixed at ₹2,110 per warrant, including a premium of ₹2,108.

If the QIP and warrant issue are both completed, the two transactions will bring around ₹3,850 crore of equity capital into Piramal Finance.

The company said the capital raised will strengthen its balance sheet and provide greater flexibility to pursue disciplined growth across diversified retail and granular wholesale lending while maintaining a strong capital buffer and prudent risk profile.

Piramal Finance Chairman Anand Piramal said the fundraise marks an important milestone in the company's effort to build a diversified, retail-led and technology-driven financial services institution.

The company has expanded its reach across Bharat, broadened its product offerings and integrated technology and artificial intelligence into customer service, decision-making and risk management.

Piramal Finance has served more than 6 million customers and enabled over 2.5 million loans across affordable housing, small businesses and underserved communities, according to the company.

The NBFC had a total market capitalisation of ₹52,117.74 crore as of August 31, according to NSE data.

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