Piramal Enterprises plans to raise up to Rs 700 crore through bonds

Piramal Enterprises Ltd plans to raise up to Rs 700 crore through issue of Non-Convertible Debentures (NCDs) on a private placement basis, according to a regulatory filing by the company.

A meeting of the administrative committee of the board of directors of the company will be held on May 4, 2022, to consider and approve the issuance of NCDs for up to Rs 50 crore. There will also be an option to retain oversubscription for up to Rs 650 crore with the total size aggregating up to Rs 700 crore, on a private placement basis, Piramal Enterprises said in a filing on BSE.

The NCDs are secured, rated, listed, redeemable, principal protected and market linked, it added.