The board of Piramal Enterprises will meet on Friday, 23 September 2022 to consider issuing non-convertible debentures aggregating up to Rs 750 crore on private placement basis.
The company's board will consider and approve the issue of secured, rated, listed, redeemable, principal protected, market linked non-convertible debentures up to Rs 50 crore along with an option to retain oversubscription up to Rs 700 crore, the total size aggregating up to Rs 750 crore, on a private placement basis.
Piramal Enterprises (PEL) is one of the large companies in India, with a presence in financial services and pharmaceuticals.
The company's consolidated net profit declined 8% to Rs 496.09 crore despite of a 22% increase in net sales to Rs 3,548.37 crore in Q1 FY23 over Q1 FY22.
Shares of Piramal Enterprises declined 1.58% to Rs 954.45 on the BSE.
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