Piramal Enterprises’ arm to acquire 10.39% stake in Annapurna Finance

25 Jan 2024 Evaluate

Piramal Enterprises’ wholly-owned subsidiary -- Piramal Alternatives Trust (PAT), in line with its investment objective and strategy, has entered into an agreement on January 24, 2024, as a part of its normal course of business, to acquire 10.39% stake in Annapurna Finance (AFPL) for a cash consideration of Rs 300 crore by way of a purchase of equity shares and subscription to optionally convertible debentures amounting to Rs 300 crore. The transaction is subject to receipt of requisite regulatory approval by PAT and is expected to be completed before March 31, 2024. 

AFPL is a Non-Banking Financial Company-Micro Finance Institutions (‘MFI’) established in 2009 and headquartered in Odisha.

Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.

Piramal Enterprises Share Price

1093.65 -28.15 (-2.51%)
20-Dec-2024 16:59 View Price Chart
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