The National Company Law Tribunal (NCLT) has approved the merger of Piramal Enterprises Limited with its subsidiary Piramal Finance Limited, effective September 10, 2025.
Following the merger, Anand Piramal takes over as Chairman of Piramal Finance, while Ajay Piramal remains Chairman of the Piramal Group and Dr. Swati Piramal continues as Vice Chairperson.
Since 2019, Anand has driven the group’s shift from wholesale real estate lending to a diversified retail-focused NBFC, including the ₹34,250 crore DHFL acquisition and significant reduction of legacy debt. Under his leadership, the Growth business has achieved over 50% CAGR in three years.
Jairam Sridharan, who scaled Piramal Finance’s retail book from ₹5,300 crore to nearly ₹72,000 crore in four years, will serve as MD & CEO.
The merger creates a stronger, tech-led financial services platform, positioning Piramal Finance for sustained growth in retail and wholesale lending.