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Piramal Enterprises gets nod to raise up to Rs 600 crore on private placement basis

14 Jun 2017 Evaluate

Piramal Enterprises has received an approval for issue of secured Non-Convertible Debentures (NCDs) aggregating up to Rs 400 crore with a Greenshoe option of Rs 200 crore, not exceeding total issue size of Rs 600 crore on private placement basis. These NCDs are proposed to be listed on Wholesale Debt Market segment of NSE. The Administrative Committee constituted by the Board of Directors of the Company at its meeting held on June 14, 2017 has approved for the same.

Piramal Enterprises is one of the leading players globally in CRAMS (custom research and manufacturing services) as well as in the critical care segment of inhalation and injectable anaesthetics. It also has a strong presence in the OTC segment in India.

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