Piramal Enterprises plans to raise Rs 2,500 cr via NCD allotment

According to the company, the decision was taken by the `Administrative Committee of the Board of Directors` on Monday.  

Piramal Enterprises plans to raise Rs 2,500 cr via NCD allotment
Piramal Enterprises plans to raise Rs 2,500 crore via allotment of `Secured Redeemable Non-Convertible Debentures` on private placement basis, Image Source: Zee News
Written By: IANS
Updated: Tue, Dec 25, 2018
09:34 am
Mumbai, IANS
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Diversified conglomerate Piramal Enterprises plans to raise Rs 2,500 crore via allotment of `Secured Redeemable Non-Convertible Debentures` on private placement basis.

According to the company, the decision was taken by the `Administrative Committee of the Board of Directors` on Monday.

"The Committee approved the allotment of 25,000 `Secured Redeemable Non-Convertible Debentures` (NCD`s), having the face value of Rs 10,00,000 each, aggregating to Rs 2,500 crore on private placement basis," the company said in a regulatory filing to the BSE.

"These NCDs a re proposed to be listed on Wholesale Debt Market segment of NSE."