New Delhi: Piramal Enterprises Friday said it would raise 590 crore through allotment of secured redeemable non-convertible bonds on a private placement basis.

At the meeting of the Administrative Committee of the Board, the committee approved the allotment of 5,900 secured redeemable non-convertible bonds having the face value of 10 lakh only each, aggregating to 590 crore on private placement basis.

These bonds are proposed to be listed on the wholesale debt market segment of the National Stock Exchange, it added.

Shares of Piramal Enterprises closed at 2,354.25 per scrip on the BSE, up 2.82% from its previous close.