Piramal Capital

SC notice to CBI on Piramal Capital & Housing Finance plea to quash FIR

The PCHF contended that it cannot be saddled with the offences allegedly committed by the previous management prior to the initiation of the insolvency proceedings

Our becoming bank rests on regulatory intent for NBFCs: Piramal Finance MD

In a Q&A, Jairam Sridharan dwells on his company's proposed retail thrust and the challenges facing the NBFC sector

Piramal Capital aims to increase retail loan book to more than Rs 1 trn

Piramal Capital & Housing Finance expects to grow its retail loan book to more than Rs 1 lakh crore over the next three years from around Rs 25,000 crore now

Piramal Enterprises aiming to increase AUM to Rs 1 trillion in 4 years

Two-thirds of AUM book to be from consumer business, firm to focus on underserved

CoC raises base price of Reliance Capital auction to Rs 6,500 crore

Auction to be held on two days, starting December 22

RCap liquidation or negotiation? CoC to meet on Tuesday to take a call

While Deloitte, the process advisor to RCap's administrator, is said to be rooting for liquidation, CoC advisor KPMG hopes to close deal and award the firm to highest bidder

Independent valuations 70% more than bankrupt Reliance Capital bids

In November last year, the Reserve Bank of India had sent the company to debt resolution after it defaulted on its loans worth Rs 24,000 crore

Committee of creditors may ask bidders to sweeten offers for RCap

As many as 55 companies submitted expressions of interest (EoIs) for Reliance Capital but only a few submitted binding bids

Piramal Capital withdraws insolvency proceedings against Reliance Power

Piramal Capital and Housing Finance Ltd has withdrawn the insolvency proceedings against Reliance Power Ltd. Piramal Capital and Housing Finance Ltd has withdrawn the application made against Reliance Power Ltd under section 7 of the Insolvency and Bankruptcy Code 2016, a BSE filing stated. This follows an out-of-court settlement between both the companies over a Rs 526 crore loan default by Reliance Power and its subsidiary Reliance Natural Resources Ltd (RNRL). In 2010, RNRL merged with Reliance Power. RNRL had defaulted on a loan of Rs 526 crore obtained from the erstwhile Dewan Housing Finance Corporation Ltd (DHFL). The Piramal Group had acquired DHFL in 2021 and merged it with Piramal Capital and Housing Finance. In March this year, Piramal Capital initiated bankruptcy proceedings against Reliance Power under section 7 of the IBC, 2016 in the NCLT Mumbai to recover dues. In July, during a hearing on Piramal Capital's application, both the companies had informed the NCLT ..

Piramal Finance MD sees no slowdown in credit growth despite rising rates

The company typically draws its customers from the self-employed category with a monthly take-home income of anywhere between 15,000 rupees ($183.99) to 60,000 rupees

Lenders await fate of Piramal, 63 Moons Tech litigation in top court

Piramal had appealed against the National Company Law Appellate Tribunal (NCLAT) order directing DHFL's lenders to reconsider their decision on the valuation of the financial firm's fraud accounts

Piramal Capital & Housing Finance to hire 6k, to increase branches to 400

At present, the PCHFL has a loan book of around Rs. 2,100 crore in UP, and 21 branches covering all the key markets in the state

Yesh Nadkarni appointed CEO for wholesale lending at Piramal Capital

Nadkarni joins PCHFL from global investment firm KKR, where he was managing director & CEO of the India real estate lending business.

Piramal Capital drags Anil Ambani companies to NCLT over unpaid dues

Reliance Natural Resources had defaulted on a loan of Rs 526.1 cr from DHFL before it was taken over by Piramal Capital last September for Rs 34,250 cr

Piramal Capital ties up with IMGC to offer home loans of Rs 5 lakh-75 lakh

Piramal Capital & Housing Finance Ltd (PCHFL) has partnered with India Mortgage Guarantee Corporation to offer home loans ranging from Rs 5-75 lakh to salaried and non-salaried customers. Under this arrangement, India Mortgage Guarantee Corporation (IMGC) will provide guarantee on a part of the loan so that it is secured in case of a default. The housing finance company aims to generate 10-12 per cent of its business from this partnership by the end of FY23, PCHFL said in a statement on Wednesday. The product 'Gruh Setu Home Loan' aims to cater to the aspirational needs of salaried and self-employed customers across geographies. It is designed to extend loans to individuals who receive salary by bank or cash, pensioners, employees of proprietorships and partnership firms. It will also cater to self-employed professionals like doctors or architects, small business owners, proprietors and partners of partnership firms. PCHFL, the wholly-owned subsidiary of Piramal Enterprises, said

Piramal Capital and Housing Finance integrates over 3,000 employees of DHFL

Piramal Capital & Housing Finance Limited (PCHFL) that acquired debt-ridden DHFL has integrated over 3,000 employees and plans to increase the headcount for business growth. Under 'Project Sangam', a programme focused on the cultural and business integration, senior professionals from DHFL will move to a new corporate premises in Mumbai next week. The company, a wholly-owned subsidiary of Piramal Enterprises Limited, continues to hire extensively for retail operations pan-India and has rolled out 2,000 offers already in the last three months in the merged entity. "This hiring momentum is likely to continue in the fourth quarter of current fiscsal and 2022-23, thereby taking the overall employee strength to over 5,000. Further, the combined experience of the senior leadership in driving significant business growth, exhaustive knowledge of the industry, and professional expertise will be instrumental for strengthening and growing PCHFL," the company said in a statement. Vikram ...

Post DHFL acquisition, Piramal Capital to open 100 branches

Having access to over 10 lakh customers post acquisition of DHFL last year, Piramal Capital & Housing Finance (PCHFL) plans to open 100 branches and expand to 1,000 more cities in coming years. In September 2021, PCHFL completed acquisition of debt-laden Dewan Housing Finance Ltd (DHFL), thereby creating one of the largest housing finance companies in the country. PCHFL has now access to over 1 million (10 lakh) customers across 24 states with a network of 301 branches, PCHFL said in a release on Tuesday. To address diverse financing needs of the under-served 'Bharat' market, the company plans to expand its operations to about 1,000 cities in the next three years, with physical presence in about 500-600 cities. In the next 12 months, it expects to open another 100 branches, the company said. "We have integrated the two organisations to create one consolidated firm. There has been no attrition among employees of the erstwhile lender, and we have been able to finalise roles for ...

Piramal Capital & Housing Finance ties up with API Holdings

Piramal Capital & Housing Finance (PCHFL) has tied up with API Holdings to provide financing solutions to customers and has earmarked an amount of Rs 100 crore for disbursement by the end of this fiscal. Piramal Capital & Housing Finance Limited (PCHFL), the wholly-owned subsidiary of Piramal Enterprises Limited, has forged a strategic partnership with API Holdings through its digital platform Retailio, a release said on Thursday. Retailio is India's largest digital B2B healthcare platform. The partnership aims at synergizing respective capabilities to provide efficient and seamless financing solutions to consumers, retailers and merchants in the API Holdings' healthcare ecosystem. "Under this partnership, PCHFL Finance has earmarked an initial amount of Rs 100 crore for disbursement by March 2022, which will get upsized basis initial market response," PCHFL said. PCHFL will cater to products like Buy Now Pay Later (BNPL) for consumers and merchants, multi-collateral loans for

Piramal Capital partners with API Holdings for health finance solutions

The finance arm of Piramal Enterprise has earmarked Rs 100 crore for disbursement by March 2022, which will get upsized basis initial market response.

Piramal Capital & Housing Finance acquires DHFL via reverse merger

Piramal Enterprises on Friday said its subsidiary, Piramal Capital & Housing Finance Limited (PCHFL), has merged with debt-ridden Dewan Housing Finance (DHFL) after paying Rs 34,250 crore to the creditors of the troubled housing finance company. PCHFL has merged into DHFL with effect from September 30, 2021 pursuant to the reverse merger as contemplated under scheme of arrangement provided under the resolution plan, Piramal Enterprises said in a regulatory filing. "Consequent to the Reverse Merger, DHFL shall issue such number of equity shares to the shareholders of PCHFL i.e. to Piramal Enterprises Limited (PEL), in accordance with the scheme of arrangement provided under the resolution plan," it said. Upon allotment of equity shares to PEL, DHFL will become a wholly-owned subsidiary of PEL, it said, adding, Piramal Enterprises Limited will acquire 100 per cent of the equity share capital in DHFL. "The acquisition is in line with a strategic roadmap to transform and expand ...