Piramal Finance Debunks Gold Loan Acquisition Buzz: "Factually Incorrect"

Reports emerged claiming Piramal Finance proposed buying Hyderabad-based Keertana Finserv to enter the booming gold loan market, fueled by rising gold prices and demand from households and traders. Keertana, pivoting from microfinance to gold loans, saw revenue rise 24% YoY to ₹156 crore in Q2 FY26, though profits dipped. Piramal, post its merger with Piramal Enterprises, manages massive AUM focused on housing and property loans, with ambitions for MSME and secured lending expansion.​​

Key Highlights

Official Denial: Company confirmed Economic Times article on Keertana talks is "factually incorrect"; no acquisition pursuit underway.​

Market Context: Speculation tied to Piramal's FY26 gold loan entry plans, but firm evaluates opportunities strategically without current deals.​

Keertana Shift: Exiting microfinance (loans down to ₹194 crore), boosting gold loans amid sector tailwinds.​

Piramal Scale: ₹91,500 crore AUM as of Sep 2025; targets 25% YoY growth, margins to 3% by FY28.​​

Implications

This rebuttal quells short-term stock volatility while underscoring Piramal's disciplined M&A approach in a competitive NBFC landscape.

Sources: The Economic Times, Reuters, ET Now, TradingView​