Piramal Enterprises to raise up to Rs 300 crore via NCDs

By: |
New Delhi | June 10, 2016 12:49 PM

Diversified group Piramal Enterprises today said its board has approved a proposal to raise up to Rs 300 crore through issue of non-convertible debentures (NCDs).

Piramal Enterprises is the flagship company of Piramal Group and present in healthcare, financial services and information management verticals. (PTI) Piramal Enterprises is the flagship company of Piramal Group and present in healthcare, financial services and information management verticals. (PTI)

Diversified group Piramal Enterprises today said its board has approved a proposal to raise up to Rs 300 crore through issue of non-convertible debentures (NCDs).

“In the meeting of administrative committee of board of directors of the company held on June 10, 2016, the committee approved the issue of secured non-convertible debentures (NCDs) aggregating up to Rs 300 crore on a private placement basis,” Piramal Enterprises said in a regulatory filing.

The Mumbai-based entity, however, has not specified the purpose of raising the fund.

Piramal Enterprises is the flagship company of Piramal Group and present in healthcare, financial services and information management verticals.

The group currently has operations in over 30 countries.

Shares of Piramal Enterprises were trading 1.32 per cent higher at Rs 1,354 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
1Low demand from mutual funds: Reduced surplus liquidity pushes up yields on commercial papers, treasury bills
2Agriculture minister recommends judicious use of chemicals in agriculture
3Bitcoin, Ethereum, others lost $350B in 48 hours as Evergrande crisis pummeled cryptos mcap: Experts