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

The company, however, did not specify on what it intends to do with the money

PTI July 19, 2016 11:33:35 IST
Piramal Enterprises plans to raise Rs 1,000 cr via NCDs

New Delhi: Piramal Enterprises Tuesday said it is looking to raise up to Rs 1,000 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

Piramal Enterprises plans to raise Rs 1000 cr via NCDs

Reuters

"A meeting of the administrative committee of the Board of Directors of the company will be held on July 21, 2016 to consider and approve the issue of secured non-convertible debentures amounting up to Rs 1,000 crore on private placement basis.

The company, however, did not specify on what it intends to do with the money.

Piramal Enterprises Ltd (PEL) is the flagship company of Piramal group and has a presence in the healthcare and financial services verticals.

Shares of the company were trading 1.43 per cent higher at Rs 1,545.85 on BSE.

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