Piramal Enterprises to raise up to Rs 650 crore

Piramal Enterprises on Tuesday said its board has approved raising of up to Rs 650 crore by issuing bonds.

The size of the issue is up to Rs 50 crore with an option to retain over subscription of up to Rs 600 crore, according to a regulatory filing.

The meeting of administrative committee of the board of directors has clear the issuance of secured, rated, listed, redeemable, principal protected, market linked non-convertible debentures on private placement basis, it added.