Piramal Enterprises to raise Rs.1,000 cr via NCDs

New Delhi: Piramal Enterprises will raise up to Rs1,000 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

The administrative committee of the board has approved the issue of secured, rated, listed, redeemable principal protected, market linked NCDs on private placement basis, Piramal Enterprises said in a regulatory filing.

The committee has approved the issue of NCDs on private placement basis of up to Rs 100 crore along with an option to retain oversubscription of up to Rs 900 crore, aggregating up to Rs 1,000 crore on private placement basis, it noted.