Piramal Enterprise has received approval to raise funds through issue of secured Non-Convertible Bonds on private placement. The size of the issue is Rs 400 crore with green shoe option of Rs 200 crore such that the total value shall not exceed Rs 600 crore. The Administrative Committee of the Board of Directors of the Company at its meeting held on December 27, 2018 has approved the same.
The Non-Convertible Bonds are proposed to be listed on Wholesale Debt Market segment of NSE. The tenure of the instrument is 36 months.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.