Piramal Capital & Housing Finance is now an NBFC-ICC. The Reserve Bank of India gave its approval. The company stated the housing finance business continues under the NBFC license.
Separately, Piramal Enterprises invested ₹600 crore in Piramal Finance (PFL). This was done via a rights issue. PFL is a wholly owned subsidiary.
The investment will support PFL’s operations and other needs. The company’s shareholding in PFL will not change.
Also, the company approved issuing NCDs on March 27. These are secured and rated debentures. The base issue is ₹100 crore. There is an option to retain ₹200 crore more. The total issue can reach ₹300 crore.
If payments are late, an extra 1% interest will be charged yearly. The debentures will be paid back on April 9, 2029. This includes the principal and interest.