Piramal Enterprises's Board Approves Plan To Raise Rs 560 Crore

Piramal Enterprises on Thursday informed that its board has approved the proposal to raise Rs 560 crore through issue of non-convertible debentures (NCDs). The meeting of Administrative Committee of Board of Directors of the company was held on Thursday.

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 NSE.

Meanwhile, Piramal Enterprises was trading lower by 0.2% at Rs 2,980.50 per share 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.
Piramal Enterprises Limited (PEL) is engaged in the business of pharmaceuticals, including research and development, financial services and information management through its subsidiaries.

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