Piramal Enterprises raises Rs 105 crore via NCDs

Piramal Enterprises has raised Rs 105 crore in the second tranche through issue of debentures as part of its overall plan to mop up Rs 1,000 crore, the company said today.
"At the meeting of Administrative Committee held on June 23, 2016, the committee approved allotment of 1,050 secured redeemable NCDs, having the face value of Rs 10,00,000 each aggregating Rs 105 crore under tranche II," Piramal Enterprises said in a BSE filing.
Earlier this month, the company had raised Rs 300 crore through issuance of NCDs.
In February this year, Piramal Enterprises had said it will raise up to Rs 1,000 crore through issuance of non-convertible debentures on a private placement basis in one or more tranches from time to time.

Piramal Enterprises is the flagship company of Piramal Group and has presence in healthcare and financial services verticals.
The stock was trading at Rs 1,414, up 2.41 per cent, on BSE at 1109 hours.