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Piramal Enterprises to raise Rs 500 crore through NCDs

Piramal Enterprises on Wednesday said that “Its board has approved the proposal to raise to Rs 500 crore through issuance of secured NCDs on a private placement basis.”

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In a regulatory filing at the exchange, the company said, “The meeting of the administrative committee of the board of directors has approved the issue of secured, rated, listed, redeemable non-convertible debentures (NCDs) on a private placement basis.”

“The NCDs are proposed to be listed on the wholesale debt market segment of NSE,” the filing added.