Piramal Enterprises raises Rs 600 cr via NCDs

Piramal Enterprises today said it has raised Rs 600 crore via issue of securities.
An administrative committee of the company's board today approved the allotment of 6,000 secured redeemable non convertible debentures (NCDs) having the face value of Rs 10 lakh each aggregating to Rs 600 crore on private placement basis, Piramal Enterprises said in a regulatory filing.
The NCDs are proposed to be listed on wholesale debt market segment of NSE, it added.
In a separate filing, the company today said it is looking to raise up to Rs 125 crore through issue of securities on private placement basis.

The company however did not disclose what it intended to do with the money to be raised.
Shares of Piramal Enterprises today closed 0.19 per cent lower at Rs 2,908.40 per scrip on BSE.