Piramal Enterprises defers NCD plans

Piramal Enterprises on Wednesday said it has deferred the issue of privately placed non-convertible debentures (NCDs) aggregating Rs 3,000 crore to a future date. At the meeting of Administrative Committee of the Board, the committee has decided to defer the issue of privately placed NCDs aggregating up to Rs 3,000 crore (including an option to retain over-subscription of up to Rs 2,500 crore) to a future date, Piramal Enterprises said in a BSE filing.

The company, however, did not provide any details about the reasons for deferment. Shares of Piramal Enterprises closed at Rs 1,895.35 per scrip on the BSE, down 2.77 per cent from its previous close.