Piramal Enterprises Raises Rs 600 Crore Via NCDs

Piramal Enterprises, a flagship company of the Piramal Group on Tuesday said that it has raised Rs 600 through the issue of securities.

The company in its regulatory filing said that, the allotment of 6,000 secured redeemable non-convertible debentures (NCDs) having the face value of Rs 10 lakh each aggregating to Rs 600 crore on private placement basis has been approved by an administrative committee of the company's board.

The filing also added that the NCDs are proposed to be listed on the wholesale debt market segment of NSE.

The stock of the company on the NSE is trading at Rs 2,874 per share lower by Rs 27 per share or 0.9% at 1000 hours. It has delivered 109% returns in a period of one year and has outperformed the BSE Sensex and BSE Healthcare indices over the same time span.

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