Piramal Enterprises Ltd on Monday announced that Piramal Capital & Housing Finance has received approval from the Reserve Bank of India (RBI) to commence operations as a Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC). “We wish to inform you that the Reserve Bank of India under Section 45 IA of the Reserve Bank of India Act, 1934, on 4th April, 2025, has granted a Certificate of Registration (CoR) to Piramal Finance Limited (PFL), a wholly-owned subsidiary of the company, to commence its business of Non-banking Financial Institution– Investment and Credit Company (NBFC-ICC) without accepting public deposits,” the company said in a regulatory filing.
With this, Piramal Finance will stop conducting its business as a Housing Finance Company (HFC) and has accordingly surrendered the HFC Certificate of Registration.
“This intimation is being submitted today, being the first working day after the receipt of CoR from Reserve Bank of India,” it said.
Furthermore, in a separate development last week, Piramal Enterprises had announced that it has infused Rs 600 crore into Piramal Finance through a rights issue. The investment is aimed at supporting PFL’s business operations and general corporate purposes. The company had clarified that there will be no change in its shareholding percentage in PFL following this transaction.
Shares of Piramal Enterprises were down 3.94 per cent at 12:50 pm to a trading price Rs 928.20.