Piramal Enterprises plans to raise Rs 2,500 cr via NCD allotment

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Mumbai, Dec 25 (IANS) Diversified conglomerate Piramal Enterprises plans to raise Rs 2,500 crore via allotment of ‘Secured Redeemable Non-Convertible Debentures’ on private placement basis.

According to the company, the decision was taken by the ‘Administrative Committee of the Board of Directors’ on Monday.

“The Committee approved the allotment of 25,000 ‘Secured Redeemable Non-Convertible Debentures’ (NCD’s), having the face value of Rs 10,00,000 each, aggregating to Rs 2,500 crore on private placement basis,” the company said in a regulatory filing to the BSE.

“These NCDs a re proposed to be listed on Wholesale Debt Market segment of NSE.”

–IANS

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