Primal Enterprises To Come Up With Capital Raising Plan

One of the major pharma company, Piramal Enterprises, is planning to raise up to Rs 600 crore through the issue of Negotiable Certificates of Deposits (NCD) on private placement basis, reported a leading national business news agency.

The company has not provided any further details regarding its capital raising plan. The company gained nearly 5% at Rs 2,945.5 per share in the Friday’s trading session. The stock hit its fresh 52-week high of Rs 2,960 per share on Friday. The stock is expected to gain further, as per the reports of market analysts.

As per the BSE filing by the company, Piramal Enterprises Ltd has informed that a meeting of the Administrative Committee of the board of directors of the company will be held on June 14 2017, to consider and approve the issue on private placement basis of Secured Non-Convertible Debentures amounting upto Rs 400 crores with a Greenshoe option of Rs 200 crores, not exceeding total issue size of Rs 600 crores.

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About Suhani Varma

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