Piramal Enterprises to raise up to Rs 500 cr via NCDs

Piramal Enterprises today said it is looking to raise up to Rs 500 crore through issuance of non-convertible debentures on private placement basis.

"At the meeting of administrative committee of the board of directors held on September 30, the committee approved the issue of secured non-convertible debentures (NCDs) aggregating upto Rs 500 crore on private placement basis," Piramal Enterprises said in a regulatory filing.

The company, however, did not specify how it will utilise the proceeds.

Piramal Enterprises Ltd (PEL) is the flagship company of Piramal Group and is present in various sectors including healthcare and financial services.

Shares of the company today settled 0.53 per cent up at Rs 1,836.15 on BSE.