Page 2 - Piramal Group

Piramal Foundation runs campaign to dispel vax hesitancy in tribal dists

Campaign Aashwasan -implemented along with Union Health and Tribal Affairs Ministries as well as USAID- aims to cover all villages of blocks with over 25% of tribal population in 177 tribal districts

Piramal Enterprises Q3 profit rises 11% to Rs 888 crore

The company had posted a net profit of Rs 799 crore for the same period last fiscal year

Piramal Group planning to move Supreme Court against NCLAT order on DHFL

DHFL's acquisition by Piramal Group remains unaffected and the business integration continues as envisaged

Piramal Pharma invests Rs 101.77 cr for minority stake in Yapan Bio

The Mumbai-based company has acquired a 27.78 per cent stake in Yapan as a result of the investment

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 Enterprises consolidated net profit down 32% to Rs 426 crore

The total income for the reporting quarter was down 3 per cent to Rs 3,234 crore from Rs 3,339 crore in Q2FY21

Demerger to give a push to both pharma and financial services: Ajay Piramal

In a Q&A, the Chairman of Piramal Group talks about the prospects of both businesses, the rationale for the demerger and how supply side issues are impacting Indian companies

Demerger could fetch higher valuations for Piramal Pharma

The company is focussing on growth and is scouting for more acquisitions

Piramal Enterprises board approves to demerge and list pharma business

The demerger will give potential investors the option of being associated with the business of their choice

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 ...

Will step down from Tata board if there's a conflict, says Ajay Piramal

In an interview, Piramal Group chairman said he would not hesitate to step down from Tata Sons board if there is a sense of conflict of interest after his acquisition of DHFL

SC asks NCLAT to hear 63 moons plea against DHFL sale within two months

The Supreme Court on Monday refused to stay the implementation of DHFL Resolution Plan on the plea filed by 63 moons technologies and directed the NCLAT to hear the issue expeditiously.

NCLAT refuses to stay Piramal Group's resolution plan for DHFL

A two-member ben­ch presiding over the case said, "We do not think that any int­erim order as sou­ght with regard to resolution plan app­roved needs to be passed."

NCLAT declines US firm's plea against Piramal group's bid for DHFL

The NCLAT termed the plea "premature", given that it approached the appellate tribunal without getting a decision on its petition filed before the Mumbai Bench of the NCLT

RBI bans DHFL from taking deposits under Piramal Group mgmt

The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group's bid to take over it towards the end of the resolution process. The revelation comes in the June 7 NCLT Mumbai order that has approved the Rs 35,250-crore bid for the once second largest mortage lender by Piramal Capital & Housing Finance, forcing over 65 per cent haircut on the creditors and just Re 1 to its NCD holders to whom it owes more than Rs 45,000-crore. On the 14th page of the 86-page NCLT order by HP Chaturvedi and Ravikumar Duraisamy, it says DHFL no longer is a deposit taking NBFC but a non-deposit taking one. The changes were made in February 2021, after the RBI gave a non-objection to the January 25, 2021 application by R Subramaniakumar, the DHFL administrator, citing Rule 5 of its FSP (financial ...

Best of BS Opinion: No backdoor entry, lab-leak hypothesis, and more

Here are the best of Business Standard's opinion pieces for Wednesday

No backdoor entry

Promoters should not be allowed to delay insolvency resolution

Piramal Group's resolution plan for beleaguered DHFL gets NCLT nod

Piramal's plan offers to pay Rs 37,250 crore, with upfront cash of Rs 12,700 crore.

NCLAT stays NCLT order asking CoC to consider Kapil Wadhawan's offer

NCLAT clarified that such appeals should not come in the way of the NCLT deciding on the approval of the resolution plan given by the Piramal Group which has already been approved by the lenders.

Piramal aims to be among top-5 NBFCs in retail space after DHFL deal

Piramal Retail Finance on Thursday said it aims to focus on scale