Piramal Enterprises Infuses ₹1,000 Crore into Subsidiary to Drive Growth
Piramal Enterprises Limited (PEL) has invested ₹1,000 crore in its wholly owned subsidiary, Piramal Capital & Housing Finance Limited (PCHFL). This strategic infusion, executed through a rights issue, aims to strengthen PCHFL’s business operations and support its corporate objectives.
Despite the capital injection, PEL’s shareholding in PCHFL remains unchanged, reflecting the company’s unwavering commitment to its subsidiary.
Key highlights of the transaction:
- The deal is exempt from related party regulations as it involves a holding company and its wholly owned subsidiary.
- PEL’s promoter/promoter group/group companies’ involvement is limited to PCHFL’s status as a wholly owned subsidiary.
PCHFL’s financial performance over the past three fiscal years underscores its growth trajectory:
- FY22: ₹6,03,861 lakh
- FY23: ₹6,59,178 lakh
- FY24: ₹6,66,356 lakh
This ₹1,000 crore investment reaffirms PEL’s confidence in PCHFL’s potential and its commitment to fostering long-term growth.
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