11 Oct, EOD - Indian

SENSEX 81381.36 (-0.28)

Nifty 50 24964.25 (-0.14)

Nifty Bank 51172.3 (-0.70)

Nifty IT 42335.7 (0.59)

Nifty Midcap 100 59212.7 (0.47)

Nifty Next 50 75378.45 (0.13)

Nifty Pharma 23582.25 (1.19)

Nifty Smallcap 100 19008.8 (0.58)

11 Oct, EOD - Global

NIKKEI 225 39605.73 (0.57)

HANG SENG 21251.99 (2.98)

S&P 5866 (0.43)


Hot Pursuit News

You are Here : Home > News > Hot Pursuit News >

(19 Aug 2024, 11:19)

Piramal Ent spurts as promoter entity increases stake to 46.30%

Piramal Enterprises (PEL) rallied 3.16% to Rs 976.80 after the NBFC informed that its promoter group entity purchased 6.16 lakh equity shares, representing 0.27% of the total paid-up share capital of the company.


In a regulatory filing, the NBFC said that on 16 August 2024, an entity within the promoter group purchased 6,16,615 equity shares of PEL, representing 0.27% of the company's paid-up capital, on the National Stock Exchange of India (NSE).

As a result of this purchase, the promoter group's shareholding in PEL has increased from 46.03% to 46.30%.

“The promoters have consistently demonstrated their confidence in the growth trajectory of PEL. This latest acquisition of shares aligns with that belief, further reflecting their trust in the company’s business fundamentals, future plans, and value creation potential.

In addition, the promoters/promoter group did not participate in the buy-back of PEL shares in 2023.”

Meanwhile, the NBFC had announced that its Administrative Committee of the board of directors will consider and approve the issue of secured, rated, listed, redeemable, non-convertible debentures up to Rs 50 crore along with the green shoe option to retain oversubscription up to Rs 100 crore, the total size aggregating up to Rs 150 crore, having a face value of Rs 1 lakh each, on a private placement basis.

Piramal Enterprises (PEL) is a leading diversified NBFC in India with a presence across retail lending, wholesale lending, and fund-based platforms. The company has investments and assets worth around $10 billion, with a network of branches across 26 states/UTs.

The NBFC reported 64.33% fall in consolidated net profit to Rs 181.48 crore in Q1 FY24 as against Rs 508.78 crore posted in Q1 FY24. Total income fell 25.99% to Rs 2,145.38 crore in Q1 FY25 as compared to Rs 2,898.79 crore posted in corresponding quarter last year.


More News
More Company News View Company Information