Description

Three non-convertible debentures of Piramal Finance Limited admitted to trading on NSE Debt Segment effective November 10, 2025, pursuant to transfer from Piramal Enterprises Limited through Scheme of Arrangement.

Summary

NSE has admitted three non-convertible debentures of Piramal Finance Limited to trading on the Debt Segment effective November 10, 2025. These securities were transferred from Piramal Enterprises Limited pursuant to a Scheme of Arrangement. All three debentures are publicly issued, fixed-rate instruments with ICRA AA rating.

Key Points

  • Three debentures with symbols RDNGDB PFL26, RDNGDB PFL28, and RDNGDB PFL33 admitted to trading
  • Original issue date: November 3, 2023
  • Maturity dates: November 3, 2026, 2028, and 2033 respectively
  • Coupon rates: 9.05%, 9.2%, and 9.35% with periodic frequency
  • All instruments rated ICRA AA with multiplier 1
  • Securities transferred from Piramal Enterprises Limited through Scheme of Arrangement
  • Trading effective from November 10, 2025

Regulatory Changes

No regulatory changes. This is a routine listing following corporate restructuring.

Compliance Requirements

Members should update their systems to reflect the new listings and ensure proper trading and settlement of these securities from the effective date.

Important Dates

  • Circular Date: November 7, 2025
  • Effective Date: November 10, 2025
  • Issue Date (all debentures): November 3, 2023
  • Maturity Dates:
    • PFL26: November 3, 2026
    • PFL28: November 3, 2028
    • PFL33: November 3, 2033

Impact Assessment

Limited market impact. This is an administrative listing following transfer of securities from Piramal Enterprises Limited to Piramal Finance Limited under a corporate restructuring scheme. The instruments continue trading with same terms and ratings. Impact is confined to debt market participants dealing with Piramal group securities.

Impact Justification

Routine listing of debentures on debt segment following corporate restructuring; limited market impact as securities already existed under different entity