Piramal Enterprises Ltd (PEL) will merge with Piramal Finance Ltd (PFL), with September 23 as the record date. PEL shareholders will receive PFL shares on a 1:1 basis, and PEL shares will cease trading from the record date. The merger consolidates the group’s financial services operations under PFL, aligning with RBI regulations and enabling operational efficiencies, broader product offerings, and improved shareholder value.