Piramal Enterprises on Monday said it plans to raise Rs 2,500 crore by issuing non-convertible debentures (NCDs) on private placement basis.
The administrative committee of the company’s board has approved allotment of 25,000 secured redeemable NCDs having face value of Rs 10 lakh each, aggregating to Rs 2,500 crore on private placement basis, Piramal Enterprises said in a BSE filing. These NCDs are proposed to be listed on wholesale debt market segment of NSE, it added.
Shares of Piramal Enterprises were trading at Rs 2,315.80 per scrip on BSE, up 1.13 per cent from the previous close.