Piramal group chairman Ajay Piramal. Photo: Abhijit Bhatlekar/ Mint
Piramal group chairman Ajay Piramal. Photo: Abhijit Bhatlekar/ Mint

Piramal Enterprises to raise up to Rs500 crore through NCDs

Piramal board approved the issue of secured NCDs on private placement basis up to Rs400 crore with an option to retain over-subscription of up to Rs100 crore, aggregating the total issue size to Rs500 crore

New Delhi: Piramal Enterprises on Wednesday said it plans to raise up to Rs500 crore through issue of secured non-convertible debentures (NCDs) on private placement basis.

The administrative committee of the board approved the issue of secured NCDs on private placement basis up to Rs400 crore with an option to retain over-subscription of up to Rs100 crore, aggregating the total issue size to Rs500 crore, Piramal Enterprises said in a filing to BSE.

“These NCDs are proposed to be listed on the wholesale debt market segment of NSE," it added.

The company, however, did not specify what it wants to do with the funds to be raised.

Shares of Piramal Enterprises were trading at Rs2,094.45 per scrip on BSE, up 2.13% from their previous close.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed)

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