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Piramal Enterprises raises Rs 1000 crore through NCDs

Piramal Enterprises has raised funds aggregating to Rs 1000 crore on private placement basis. The Administrative Committee of the Board of Directors of the company, at its meeting held on November 22, 2018 has allotted 1,000 Secured Redeemable Non-Convertible Debentures (NCD’s), aggregating up to Rs 100 crore having a term of 12 months from the Deemed Date of Allotment (DDA) i.e. November 22, 2018.

The company’s board has also allotted 9,000 Debentures aggregating up to Rs 900 crore (including an option to retain oversubscription upto Rs 500 crore) having a term of 24 months from the DDA i.e. November 22, 2018. These NCDs are proposed to be listed on Wholesale Debt Market segment of NSE.

Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.

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