Piramal Enterprises has received approval for raising Rs 4,996.2 crore through allocation of securities to Qualified Institutional Buyers (QIBs). The administrative committee of the company’s board of directors has approved the issue of Confirmation of Allocation Note for allocation of 4,64,330 CCDs (compulsorily convertible debentures). The CCDs have a face value of Rs 1,07,600 each.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.