Piramal Enterprises today said its board has approved raising up to Rs 550 crore through issue of securities.
The meeting of administrative committee of the board approved the issue of secured non-convertible debentures (NCDs) aggregating up to Rs 550 crore on private placement basis, Piramal Enterprises said in a regulatory filing.
The company, however, did not specify the purpose for raising the fund.
Piramal Enterprises is the flagship company of Piramal Group and is present in the healthcare, financial services and information management verticals.
Mumbai-based Piramal Group currently has operations in over 30 countries and a strong presence in more than 100 markets around the world.
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