The meeting of committee of directors (Funding) today approved the issue of unsecured non-convertible debentures (NDCs) aggregating up to Rs 100 crore on a private placement basis, Piramal Enterprises said in a regulatory filing.
The company said it will issue 1,000 unsecured NCDs of face value of Rs 10 lakh with a tenure of 17 months at an interest rate of 9.33% per annum.
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Piramal Enterprises is the flagship company of Piramal Group and is present in the healthcare, financial services and information management verticals.
Piramal Group has operations in over 30 countries and a strong presence in more than 100 markets around the world.
Shares of the company closed 2.19% up at Rs 957.55 apiece on BSE.