Trilegal acts on reverse merger of Piramal Enterprises with Piramal Finance

Piramal Enterprises Limited has merged into its wholly owned debt-listed subsidiary, Piramal Finance Limited, following its conversion from an HFC to an NBFC-ICC — marking a rare reverse merger in the Indian financial services sector. 

Trilegal advised both Piramal Enterprises and Piramal Finance on this reverse merger, as well as the subsequent equity listing.

The transaction was led by Ashwyn Misra (Partner) and Deep Choudhuri (Partner), wirh support from Shebani Bhargava (Senior Associate) and Associates Medha Nagpal and Gayathri Pillai.

Chitra Rentala (Partner), Kriti Srivastava (Senior Associate), Khyati Mehrotra (Senior Associate), Priyanka Vishnoi (Associate) advised on Disputes aspects.

Ameya Khandge (Partner), Atishay Ajmera (Counsel), Pragya Pugalia (Senior Associate) advised on Banking and Finance aspects.

Vijay Parthasarathi (Partner), Albin Thomas (Partner), Malika Grewal (Counsel) and Associates Sheetal Kumar, Olivia De, Vansh Dhoka, and Janhavi Shah advised on Capital Markets aspects.

Gautam Chawla (Partner) advised on Competition law aspects.

Sampath Kumar (Partner) advised on Secretarial and Compliance aspects.

Piramal Finance Limited focuses on making financial access simpler and more meaningful for individuals, micro-entrepreneurs, and businesses across India. The company ranks among India's fastest-growing Upper Layer NBFCs, with an Assets Under Management (AUM) of around ₹90,000 crore.

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