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Piramal Enterprises plans to raise up to Rs 1,000 cr via NCDs

21 November, 2018 8:40 AM
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Piramal Enterprises plans to raise up to Rs 1,000 cr via NCDs

Piramal Enterprises Wednesday said it plans to raise up to Rs 1,000 crore through issue of secured non-convertible debentures (NCDs) on private placement basis.

The administrative committee of the board approved issue of secured NCDs on private placement basis up to Rs 500 crore with an option to retain over-subscription of up to Rs 500 crore, aggregating the total issue size to Rs 1,000 crores in two series, the company said in a filing to the BSE.

The size of Series 2 is Rs 400 crore with green shoe option of Rs 500 crore, so that the total value shall not exceed Rs 900 crore, Piramal Enterprises said.

Source: moneycontrol.com

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