Cyril Amarchand Mangaldas, Trilegal, Linklaters act on Piramal Finance ₹2,100 crore QIP

Piramal Finance Limited has raised ₹2,100 crore from a qualified Institutions Placement of equity shares.

Cyril Amarchand Mangaldas advised Piramal Finance on this QIP.

The transaction team was led by Devaki Mankad (Partner, Regional Co-Head - Capital Markets - West) and Amitpal Singh (Partner), with support from Associates Niharika Payannavar, Janhavi Deshmukh, Eashaan Agrawal, Mann Agrawal, Mitali Mangalam and Riya Kumar.

Yash J. Ashar (Senior Partner) provided strategic guidance.

Trilegal advised the book running lead managers Nomura Financial Advisory and Securities (India) Private Limited, Motilal Oswal Investment Advisors Limited and JM Financial Limited on this QIP.

The transaction was led by Vijay Parthasarathi (Partner), with support from Saurav Das (Counsel), Associates Lajja Mehta, Joseph George, Rishabh Shah, Shivansh Anand and Aarushi Jain (Trainee Associate).

Linklaters served as the international legal counsel for the BRLMs.

Piramal Finance is a retail-led upper-layer NBFC with a pan-India presence. As on 30th June 2026, the company manages Assets Under Management (AUM) of over ₹ 1,00,000 Cr and has served over 6 million customers across 26 states.

The QIP saw strong participation from a diverse mix of leading domestic and international institutional investors. The capital raise will further strengthen the Company’s balance sheet and capital base, providing greater flexibility to pursue disciplined growth.

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