Piramal Enterprises Ltd on Monday said it plans to raise ₹2,500 crore by issuing non-convertible debentures (NCDs) on private placement basis. The administrative committee of the company’s board has approved allotment of 25,000 secured redeemable NCDs having face value of ₹10 lakh each, aggregating to ₹2,500 crore on private placement basis, Piramal Enterprises said in a BSE filing. These NCDs are proposed to be listed on wholesale debt market segment of NSE, it added.
At 2.15pm, Piramal Enterprises shares were trading 0.94%% up at ₹2,317.00 while NSE Nifty was 0.16% lower at 10,737.30 points.
Source: Mint