Piramal Finance appoints Anand Piramal as Chairman

New Delhi: Piramal Finance announced that Anand Piramal will take over as the company’s chairman. 

Anand, who joined the firm in 2019, has been responsible for the retail lending platform and played a leading role in the Rs 34,250-crore acquisition of DHFL, according to an official statement. His father, Ajay Piramal, will continue as chairman of the Piramal Group.

The appointment follows the approval by the National Company Law Tribunal (NCLT) of the merger scheme between Piramal Enterprises and its wholly owned subsidiary, Piramal Finance.

In other developments, non-bank lender Capri Global Capital said it plans to raise up to Rs 400 crore through a non-convertible debenture (NCD) issuance. The debentures are expected to offer an effective yield of up to 9.69%, with the issue scheduled to open between September 30 and October 14.

Separately, The Wealth Company Asset Management Holdings launched four new fund offerings, a dedicated flexi cap fund, an arbitrage fund, an ethical fund, and a liquid fund. 

The ethical fund follows “Satvik principles of purity, compassion, and non-violence” and will exclude investments in alcohol, tobacco, gambling, narcotics, leather, meat and poultry, pesticides, and any enterprises involving animal cruelty, according to the company.