Chairmanship of Piramal Finance Assigned to Anand Piramal

Following the recent merger of Piramal Enterprises, Anand Piramal has taken on the role of Chairman of Piramal Finance, succeeding his father Ajay Piramal, who exited the position. With Anand Piramal at the helm, this leadership change represents a major milestone for the Piramal Group’s non-banking financial division. The first board meeting after the merger, which was approved by the National Company Law Tribunal (NCLT) on September 10, ratified the change.Key Leadership Changes Anand Piramal – Assumes the role of Chairman Ajay Piramal – Resigned from his position as Non-Executive Chairman, but continues as the Chairman of the Piramal Group Swati A. Piramal – Gave up role as non-executive director Jairam Sridharan – Took on role as managing director and CEO of Piramal Finance New board appointments (Awaiting approval from shareholders) Shikha Sharma (ehemalige MD & CEO von Axis Bank) – Non-Executive Director Rajiv Mehrishi, Asheet Mehta, Anjali Bansal – Unabhängige Direktoren (5-Jahres-Amtszeit)Importance of the Transition The transition signifies a generational change in leadership and a strategic restructuring of Piramal Finance in response to changing market dynamics.

The promotion of Anand Piramal is in accordance with the group’s wider ambitions regarding digital-first financial services and innovation-led growth in the NBFC sector. Quick Static Recap Company: Piramal Finance (the NBFC division of Piramal Group) New Chairman: Anand Piramal Outgoing Chairman: Ajay Piramal New CEO: Jairam Sridharan Merger Approved By: NCLT Key New Director: Shikha Sharma (Former MD of Axis Bank).The company stated in a release that since his 2019 arrival, Anand Piramal has led the Retail Lending platform, directed the ₹34,250 crore acquisition of DHFL (the largest financial services resolution under IBC), and guided the company’s transition from wholesale real estate lending to a diversified, technology-led non-banking finance entity. He oversaw the reduction of the legacy structured real estate portfolio from ₹43,500 crore in 2022 to less than ₹5,900 crore today.