Business Standard

Piramal to raise ~300 cr via NCDs

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Piramal Enterprise­s today said that the company will raise ~300 crore through issuance of non-convertibl­e debentures (NCDs) on private placement basis.

The fund raising activity is part of the company’s plan to raise up to about ~1,000 crore through issuance of non-convertibl­e debentures on private placement basis, the company stated in a regulatory filing.

“At the meeting of the administra­tive committee of the Board of Directors of the company held on July 20, 2016, the committee approved the allotment of 3,000 secured redeemable NCDs ... ag re gating to ~300 crore under tranche VI,” the company said.

Earlier, on February 29, 2016 Piramal Enterprise­s had stated that the company would raise up to ~1,000 crore in one or more tranches from time to time.

The company, however, did not disclose the details regarding how it plans to spend money thus raised. Piramal Enterprise­s Ltd (PEL) is the flagship company of Piramal group. The company operates in the healthcare and financial services space.

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