Piramal Enterprises to raise up to Rs 1,000 cr via NCDs

By: |
June 28, 2021 4:24 PM

The administrative committee of the board has approved the issue of secured, rated, listed, redeemable principal protected, market linked NCDs on private placement basis, Piramal Enterprises said in a regulatory filing.

Pirmal Enterprises, non-convertible debuntures, private placement basis., Piramal groupPiramal Enterprises Ltd (PEL) is the flagship company of Piramal group

Piramal Enterprises on Monday said it will raise up to Rs 1,000 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

The administrative committee of the board has approved the issue of secured, rated, listed, redeemable principal protected, market linked NCDs on private placement basis, Piramal Enterprises said in a regulatory filing.

The committee has approved the issue of NCDs on private placement basis of up to Rs 100 crore along with an option to retain oversubscription of up to Rs 900 crore, aggregating up to Rs 1,000 crore on private placement basis, it noted.mThe company, however, did not specify on what it intends to do with the raised capital.

Piramal Enterprises Ltd (PEL) is the flagship company of Piramal group and has a presence in the healthcare and financial services verticals.

Shares of the company were trading 0.73 per cent higher at Rs 2,440.25 on BSE.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1CCI probe: HC rejects Amazon & Flipkart’s pleas, says e-commerce majors shouldn’t shy from inquiry if they haven’t violated rules
2Report Card: At Rs 3,651 crore, Reliance Jio profit rises 4% in Q1; Arpu flat
3No recalculation of AGR dues, says Supreme Court in setback for telcos