Piramal Capital and Housing Finance has received the Reserve Bank of India’s (RBI) approval to operate as a Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC). With this regulatory nod, the company’s housing finance business will now function under the NBFC license framework.
To strengthen its operations under the new structure, parent firm Piramal Enterprises has infused Rs 600 crore into Piramal Finance through a rights issue, ensuring no change in the existing shareholding pattern.
In a separate announcement, the company revealed plans to raise funds via the issuance of secured Non-Convertible Debentures (NCDs) worth Rs 300 crore—comprising a Rs 100 crore base issue and a Rs 200 crore green shoe option. These NCDs will mature on 9th April 2029, and come with an additional 1 per cent per annum interest penalty in case of payment default.
