Piramal's ₹6 Billion Boost: A Game-Changer for Piramal Finance?

Piramal Enterprises Ltd has announced a significant investment of ₹6 billion into its wholly-owned subsidiary, Piramal Finance. This strategic move aims to bolster Piramal Finance's business expansion and strengthen its market position. The investment comes as Piramal Enterprises focuses on growing its retail lending portfolio, which has seen substantial growth in recent years. With a target to make retail lending 75% of its loan book, the company is rapidly expanding its branch network and customer base. This capital infusion is expected to support Piramal Finance's ambitious goal of reaching ₹1.5 lakh crore in assets under management by FY 2028, further solidifying its position in India's competitive financial services sector.

 

Source: CNBC TV18