Piramal Enterprises plans to raise Rs 2,050 cr via NCDs

Diversified group Piramal Enterprises plans to raise Rs 2,050 crore through private placement of non-convertible debentures.
A meeting of the administrative committee of the board of directors of the company will be held on August 11, to consider and approve the issue on private placement basis of secured non-convertible debentures (NCDs) aggregating to Rs 2,050 crore, the company said in a BSE filing.
The NCDs, comprising both fully and partly paid, will be issued in one or more tranches from time to time, the company added.
The company had earlier stated that it planned to raise up to Rs 1,000 crore in one or more tranches through an issuance of secured NCDs on private placement basis.

Shares of Piramal Enterprises ended at Rs 1,592.35, up 1.06 per cent on BSE.