Piramal Enterprises plans to raise up to Rs 600 cr via NCDs

Piramal Enterprises today said it is looking to raise up to Rs 600 crore through issue of NCDs on private placement basis.
The company however did not provide any details regarding what it intended to do with the amount.
A meeting of the Administrative Committee of the board will be held on June 14, 2017, "to consider and approve the issue on private placement basis of secured non-convertible debentures amounting up to Rs 400 crore with a green shoe option of Rs 200 crore, not exceeding total issue size of Rs 600 crore", Piramal Enterprises said in a BSE filing.

Shares of the company today closed 5.03 per cent higher at Rs 2,945.50 per scrip on BSE.