Piramal Enterprises Limited
Issuer Overview
Piramal Enterprises Limited (PEL) is one of India’s leading diversified non-banking financial companies (NBFC) with assets worth ~$10 billion, with a network of over 400 branches across 26 states/Union Territories, offering a wide range of financial products and solutions across retail and wholesale lending, fund-based platforms and investments.
Issuer Highlights
- Piramal Enterprises Limited ('PEL') (Promoter – Mr. Ajay Piramal) is a non-deposit taking, RBI registered systemically important NBFC, engaged in providing wholesale and retail lending. Incorporated in Apr'47 it first entered the pharmaceuticals industry in '88.
- With an aim to segregate the businesses of the Piramal Group, PEL entered into scheme of arrangement with Piramal Pharma Limited ('PPL') & PHL Fininvest Private Limited ('PFPL') which was approved by the NCLT by way of its order dated August 12, 2022. Pursuant to this, pharmaceutical business was demerged from PEL, and wholly owned subsidiary PFPL was amalgamated into PEL.
Industry
Financial Services