Piramal Enterprises today said it is looking to raise up to Rs 600 crore by issuing non- convertible debentures (NCDs) on private placement basis.
A meeting of the administrative committee of the board of directors will be held on September 15, 2017 to consider and approve the issue of secured NCDs on private placement basis, Piramal Enterprises said in a filing to BSE.
The company said that though the issue size is up to Rs 200 crore, there is option to retain over-subscription of Rs 400 crore, "aggregating the total issue size to Rs 600 crore".
The company did not disclose what it proposes to do with the amount to be raised.
Shares of Piramal Enterprises today closed at Rs 2,754.30 per scrip on BSE, up 2.32 per cent from its previous close.
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