Mumbai, Nov. 7 -- The stock later gained ground to trade at Rs 1,305, marking a strong start for the newly listed financial services entity.

PEL shares last traded at Rs 1,124.60 on 22 September 2025, before being suspended ahead of the merger record date. Shareholders of PEL received equity shares of Piramal Finance in a 1:1 ratio.

The merger combines the operations of PEL and its erstwhile subsidiary, Piramal Capital & Housing Finance, under a single platform. All PEL debt securities have been transferred to Piramal Finance.

The integration aims to streamline operations and create a stronger, more diversified non-banking financial company (NBFC) under the Piramal brand.

In a media interview, managing director and CEO Jairam Sridhara...