Mumbai (Maharashtra) [India], September 21 (ANI): Piramal Enterprises Limited (PEL) has successfully completed its merger with Piramal Finance Limited (PFL), formerly known as Piramal Capital & Housing Finance Limited. The merger marks the creation of a stronger and more integrated financial services company under the Piramal brand.As part of the merger process, September 23 has been fixed as the record date for the allotment of shares. From this date, trading in PEL securities will cease. Shareholders of PEL, whose names appear in the register on the record date, will receive equity shares of Piramal Finance in a 1:1 ratio.

'For the benefit of our investors, we wish to reiterate that from the record date, the securities of PEL will stop trading. Shareholders of PEL whose names appear in the register of members on the record date will be allotted equity shares of PFL in the ratio of 1:1 as envisaged in the scheme of merger and other debt securities of PEL will be transferred to PFL,' the company said in a filing to the stock markets. In addition to the share allotment, PEL's debt securities will also be transferred to Piramal Finance. Following this, Piramal Finance will initiate the process of applying for listing its securities on the stock exchanges. Trading in these securities will commence once all necessary regulatory approvals are obtained.Importantly, the existing debt securities of Piramal Finance will continue to trade without any change, ensuring continuity for bondholders.The merger aims to streamline operations and enhance financial services offerings under a unified platform, reinforcing Piramal's position in the Indian financial sector.Piramal Enterprises Limited (PEL) announced plans to finalise its merger with Piramal Finance by Q3 FY26. PEL reported robust Q1 FY26 results with consolidated AUM reaching Rs 77,572 crore, up 22 per cent YoY. Net profit surged 52 per cent YoY to Rs 276 crore, while total income rose 27 per cent to Rs 1,237 crore. The company expanded its distribution network to 517 branches across 26 states. PEL maintained strong asset quality with retail 90+ DPD at 0.8 per cent. The company is leveraging AI and ML in operations and is on track to meet its FY26 targets, including 25 per cent YoY growth in total AUM and 80-85 per cent retail share in total AUM. (ANI)