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| 11dAfter Aditya Birla, Piramal to merge with private arm
Piramal Enterprises Ltd has announced its decision to merge with its subsidiary Piramal Capital & Housing Finance Ltd, following in the footsteps of the Aditya Birla Group. The merger is set to be completed in nine to 12 months and will result in the formation of a new company named Piramal Finance. This move will allow Piramal Capital to avoid a mandatory public share sale and comply with RBI regulations. The merger is still subject to approval from regulators, shareholders, creditors, and the National Company Law Tribunal.
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