Piramal board approves Rs 500-crore NCD issue

Diversified group Piramal Enterprises on Wednesday said its board has approved the proposal to raise up to Rs 500 crore through issue of securities on a private placement basis. The meeting of administrative committee of the board of directors has approved the issue of secured, rated, listed, redeemable non-convertible debentures (NCDs) on private placement basis, Piramal Enterprises said in a regulatory filing.

The NCDs are proposed to be listed on wholesale debt market segment of NSE, it added. The Mumbai-headquartered Piramal Group has presence across pharma, financial services, real estate and glass packaging.