Piramal Enterprises seeks to raise Rs600 crore via NCDs
New Delhi: Piramal Enterprises on Tuesday said it is looking to raise up to Rs600 crore by issuing non- convertible debentures (NCDs) on private placement basis.
A meeting of the administrative committee of the board of directors will be held on 15 September 2017 to consider and approve the issue of secured NCDs on private placement basis, Piramal Enterprises said in a filing to BSE.
The company said that though the issue size is up to Rs200 crore, there is option to retain over-subscription of Rs400 crore, “aggregating the total issue size to Rs600 crore”.
The company did not disclose what it proposes to do with the amount to be raised.
Shares of Piramal Enterprises on Tuesday closed at Rs2,754.30 per scrip on BSE, up 2.32% from its previous close.