Piramal Group's subsidary invests Rs 6 bn in Annapurna Finance
ECONOMY & POLICY

Piramal Group's subsidary invests Rs 6 bn in Annapurna Finance

Piramal Alternatives, the fund management arm of the Piramal Group, has made a significant investment in Annapurna Finance Private Limited, amounting to Rs billion. This investment includes Rs 3 billion to acquire a 9.85% stake in Annapurna through a secondary purchase of shares, along with an additional Rs 3 million for subscribing to Annapurna's optionally convertible debenture. ?The deal involved a combination of secondary purchase of shares and providing Tier-II capital. The structured capital solution will help fuel the risk-calibrated growth of the company's assets under management?, commented a representative of Piramal Alternatives ? a wholly-owned subsidiary of Piramal Enterprises. Annapurna Finance, headquartered in Bhubaneswar, is a prominent Non-Banking Financial Company (NBFC) with a strong focus on microfinance. Last year, the company applied for a universal bank license from the Reserve Bank of India. As of March 31, 2024, Annapurna Finance boasts assets under management exceeding $1.25 billion, operating through 1,372 branches across 20 states, covering nearly 450 districts. ?The growth capital from Piramal Alternatives will provide the necessary ammunition for business diversification and help consolidate our leadership position in key markets,? said Gobinda Chandra Pattanaik, MD & CEO, Annapurna Finance Private Limited. Unitus Capital served as the exclusive financial advisor to Annapurna Finance for this transaction. Apart from microfinance, Annapurna Finance also extends secured and unsecured loans to micro, small, and medium-sized enterprises (MSMEs). The company enjoys backing from prestigious domestic and international investors, including Nuveen Global Impact, Oman India Joint Investment Fund, and the Asian Development Bank, among others.

(Source: Business Standard)

Piramal Alternatives, the fund management arm of the Piramal Group, has made a significant investment in Annapurna Finance Private Limited, amounting to Rs billion. This investment includes Rs 3 billion to acquire a 9.85% stake in Annapurna through a secondary purchase of shares, along with an additional Rs 3 million for subscribing to Annapurna's optionally convertible debenture. ?The deal involved a combination of secondary purchase of shares and providing Tier-II capital. The structured capital solution will help fuel the risk-calibrated growth of the company's assets under management?, commented a representative of Piramal Alternatives ? a wholly-owned subsidiary of Piramal Enterprises. Annapurna Finance, headquartered in Bhubaneswar, is a prominent Non-Banking Financial Company (NBFC) with a strong focus on microfinance. Last year, the company applied for a universal bank license from the Reserve Bank of India. As of March 31, 2024, Annapurna Finance boasts assets under management exceeding $1.25 billion, operating through 1,372 branches across 20 states, covering nearly 450 districts. ?The growth capital from Piramal Alternatives will provide the necessary ammunition for business diversification and help consolidate our leadership position in key markets,? said Gobinda Chandra Pattanaik, MD & CEO, Annapurna Finance Private Limited. Unitus Capital served as the exclusive financial advisor to Annapurna Finance for this transaction. Apart from microfinance, Annapurna Finance also extends secured and unsecured loans to micro, small, and medium-sized enterprises (MSMEs). The company enjoys backing from prestigious domestic and international investors, including Nuveen Global Impact, Oman India Joint Investment Fund, and the Asian Development Bank, among others. (Source: Business Standard)

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?