Piramal Finance Share Price Surges After Market Debut Post Merger With Piramal Enterprises

The market opened today with a fresh story unfolding around Piramal Finance. Investors were watching closely as the stock returned to the exchanges after a long pause, stepping into its first trading session following its merger with Piramal Enterprises. And the debut didn’t disappoint.

Market Performance: Piramal Finance Takes Off on Listing Day

The first tick of the day already set the tone.

Piramal Finance share price is listed at ₹1,260 on NSE, coming in 12% above the discovered price of ₹1,124.20. For a stock returning to the market without an IPO process, that premium instantly caught attention across stock market today discussions.

But the momentum didn’t stop there.

Within moments of listing, the stock jumped 5% and hit the upper circuit at ₹1,323 per share.

From the discovered price, that’s an 18% jump, a strong start for a newly listed financial player born out of a merger.

The company’s market capitalisation is now nearing ₹30,000 crore, underscoring its scale right from day one of trading.

Main News: How Piramal Finance Reached the Market Today

To understand today’s listing, you have to look at the past few weeks.

Piramal Enterprises shares had been halted from trading since September 23, ahead of a major structural move within the group.

The key steps unfolded as follows:

• The merger of Piramal Enterprises (PEL) and its wholly-owned subsidiary Piramal Finance (PFL) was cleared by NCLT on September 10.
• September 23 was fixed as the record date for the merger.
• Under the approved scheme, shareholders of PEL received PFL shares in a 1:1 ratio.
• All debt securities issued by PEL were transferred to PFL.

This paved the way for the newly listed Piramal Finance to replace the earlier-traded Piramal Enterprises on both NSE and BSE.

Anand Piramal assumed the role of Chairman of Piramal Finance on September 16, 2025, marking an important moment in the company’s journey as it stepped into the market as an independent listed NBFC.

Company Details: A Closer Look at the Piramal Enterprises–Piramal Finance Merger

This merger is one of the most notable transactions in the NBFC space this year.

The idea was simple—integrate the financial services business under one clear identity, Piramal Finance, while simplifying the structure formerly housed under Piramal Enterprises.

Here’s the merger snapshot:

• Record Date: September 23
• Swap Ratio: 1:1 (PEL shareholders received equal PFL shares)
• Debt Transition: All PEL-issued debt securities now belong to PFL
• Listing Outcome: Piramal Finance replaces Piramal Enterprises on NSE/BSE

This move also marks the end of the standalone listing of Piramal Enterprises shares on NSE and BSE, which had been a familiar name for years before this structural shift.

The company’s management has spoken previously about the factors contributing to its recent scale-up—efficient operations, maturing business lines, and advancements in technology and AI. Those themes continue to form the backdrop of Piramal Finance’s next phase.

The company also highlighted a significant transformation over the past few years—from primarily a wholesale lender to a retail-focused NBFC.

The shift accelerated after the Dewan Housing acquisition.

• In September 2021, the retail book stood at around ₹20,000 crore.
• Today, that figure has grown to over ₹75,000 crore.
• Combined retail and new wholesale portfolios have grown 4x in four years.
• The business also broke even in July 2023, two years after the acquisition.

Summary of the Article

• Piramal Finance listed at ₹1,260 on NSE, a 12% premium over the discovered price of ₹1,124.20.
• The stock surged 5% after listing, hitting the upper circuit at ₹1,323.
• Its market cap is now nearing ₹30,000 crore.
• Piramal Enterprises shares have been halted since September 23 due to the merger process.
• NCLT approved the merger on September 10; the record date was September 23.
• 1:1 share swap ratio for PEL shareholders; all PEL debt transferred to PFL.
• Anand Piramal became Chairman of Piramal Finance on September 16, 2025.
• The company highlighted growth driven by improving efficiencies and a major shift toward retail lending.
• Retail book grew from ₹20,000 crore to over ₹75,000 crore since 2021.
• Combined retail + new wholesale business grew 4x in four years.