Piramal Enterprises raises Rs 35 cr via NCDs in 3rd tranche

Piramal Enterprises has raised Rs 35 crore through issue of non-convertible bonds in the third tranche of its Rs 1,000-crore fund raising plan.
The company, in a meeting held yesterday, approved issuance of 350 NCDs having face value of Rs 10 lakh.
"... At the meeting of administrative committee held on July 14, 2016, the committee approved the allotment of 350 secured redeemable NCD's, having the face value of Rs 10 lakh only) each, aggregating to Rs 35 crore under Tranche III of the above referred shelf disclosure document," Piramal Enterprises said in a BSE filing.
It further said: "These NCDs shall be listed on the National Stock Exchange of India Limited - Wholesale Debt Market Segment".

On February 29, 2016, Piramal Enterprises had informed that the administrative committee of the company had approved raising up to Rs 1,000 crore through issuance of NCDs on private placement basis.
Piramal Enterprises Ltd (PEL) is the flagship company of Piramal Group and has a presence in the healthcare and financial services verticals.