Piramal Enterprises' board approves proposal toraise Rs 560 crore through NCDs
DSIJ Intelligence / 16 Jun 2017
In a meeting of the Administrative Committee of Board of Directors of Piramal Enterprises on Thursday,the board approved the proposal to raise Rs 560 crore through issue of non-convertible debentures (NCDs).
Piramal Enterprises Limited (PEL) is engaged in the business of pharmaceuticals, including financial services,research and development and information management through its subsidiaries.
The committee approved the allotment of 5,600 secured NCDs having a face value of Rs 10 lakh each, aggregating to Rs 560 crore on a private placement basis. The NCDs are proposed to be listed on the wholesale debt market segment of the NSE.
Meanwhile, at Rs 2,980.50 per share, Piramal Enterprises was trading lower by 0.2% at 1037 hours IST on BSE. It touched a high of Rs 3007.50 and a low of Rs 2975 so far during the day.
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