Piramal Enterprises approves share buyback worth ₹1,750 cr
Buyback represents 5.87% of total paid-up equity share capital at ₹1,250 apiece, a 16.51% premium over Friday's closing price
Buyback represents 5.87% of total paid-up equity share capital at ₹1,250 apiece, a 16.51% premium over Friday's closing price
Piramal Enterprises will sell 3.1 crore shares in Shriram Finance at a floor price of ₹1,483 per share, a discount of 5% to Tuesday’s closing price on the BSE.
Lists Piramal Pharma Ltd (PPL) on stock exchanges, with 35% stake with Piramal family and 20% with Carlyle Group.
Shares of Piramal Pharma opened at ₹201.80 on the BSE, while it declined 5% to hit a lower circuit of ₹191.75.
Restructuring to simplify corporate structure, create two separate listed entities.
The acquisition—which entails PCHFL’s merger with DHFL—will create one of the largest affordable housing finance companies in India.
Billionaire industrialist Ajay Piramal is in makeover mode. He wants to remould his conglomerate into a well-diversified NBFC and a pharma firm, which would both be giants in their respective spaces.
The tycoon has finally won DHFL in a bruising bidding war. Here's Fortune India's earlier story explaining why the ailing home finance company is critical to his plans.
Lenders are to decide the fate of more than 55,000 fixed deposit holders in two days. In all likelihood, they will lose over 60% of their investments.
Race between Oaktree, Piramal, Adani to be decided in three days, committee of creditors to take final call on December 23.