Piramal Enterprises plans to raise up to Rs 26.50 bn through NCDs

Ajay Piramal

Piramal Enterprises Friday said it plans to raise up to Rs 26.50 billion through the issuance of non-convertible debentures (NCDs) on private placement basis.

In a regulatory filing, Piramal Enterprises said, at the meeting of administrative committee of the board of directors...the committee approved to issue up to 26,250 secured non-convertible debentures (NCDs) of up to Rs 26.25 billion (including green shoe option) on private placement basis in four series.

The NCDs are proposed to be listed in the wholesale debt market segment of the NSE, the company said.

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

Shares of Piramal Enterprises were trading 0.59 per cent higher at Rs 2,303.80 apiece on BSE.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel