It was a big day for Piramal Finance Ltd (formerly Piramal Capital & Housing Finance) as it made its debut on the stock exchanges on Friday. But the company isn’t just celebrating its new listing—it’s setting its sights on a massive future, announcing an ambitious goal to reach a ₹1.5 trillion Asset Under Management (AUM) by 2028.
“We want to build a business that is ₹1.5 trillion in AUM, 3 per cent in return on assets and predictable in terms of profitability,” declared Piramal Finance MD and CEO Jairam Sridharan at the listing ceremony at the NSE.
A New Market Giant is Born
The listing wasn’t a typical IPO. It comes after the strategic merger of Piramal Enterprises (PEL) with its wholly-owned subsidiary, Piramal Finance. This move, which saw PEL shares suspended since September 23, consolidates the firm’s financial services under one powerful listed entity.
Anand Piramal, who officially took the helm as Chairman of Piramal Finance on September 16, 2025, noted the market’s warm reception.
Speaking at the event, Piramal highlighted that the company’s stock prices “rose over 15 per cent at the time of listing.” A total of 22,66,77,700 shares were listed at a price of ₹1,260 apiece.
This new chapter is built on a foundation laid by the landmark acquisition of the debt-ridden Dewan Housing Finance (DHFL) in September 2021, a deal where Piramal paid ₹34,250 crore to DHFL’s creditors.
The Growth Engine: A 4x Rise and a Retail Pivot
This aggressive ₹1.5 trillion target is backed by a proven track record of explosive growth.
CEO Jairam Sridharan put the company’s trajectory in perspective: “We are in the top 10 in a competitive field, which is 10,000 competitors strong, and we are just five or six years old… we have grown four times from 20,000 crore to more than ₹80,000 crore in a four-year period.”
The numbers confirm the momentum. The company just reported a 17% growth in total AUM, jumping from ₹68,845 crore as of March 31, 2024, to ₹80,689 crore as of March 31, 2025.
Even more significant is the strategic shift in its portfolio. Piramal Finance has successfully pivoted its AUM mix from a 70:30 wholesale-to-retail split to a much more granular 80:20 retail-to-wholesale split in just one year, signaling a clear focus on diversifying its loan book.
What Does Piramal Finance Do?
At its core, the company is a diversified financial services provider with a strong mission to serve the underbanked and underserved populations across India.
Its business is broken down into two main segments:
- Retail Lending: This is the new growth engine, offering a broad spectrum of products including home loans, loans against property, used car loans, personal loans, and small business loans.
- Wholesale Lending: The company provides tailored, asset-backed lending solutions, focusing on mid-segment residential and commercial real estate projects. It also offers customized funding to mid- and large-sized businesses in non-real-estate sectors.
