The NBFC on Wednesday announced that a meeting of administrative committee of the board of directors will be held on Monday, 28 March 2022 to consider the issuance of nonconvertible debentures.
The company's board will consider and approve the issue of secured, rated, listed, redeemable, principal protected, market linked Non-Convertible Debentures up to Rs 50 crore along with an option to retain oversubscription up to Rs 325 crore. The total aggregate size of the issue including oversubscription is Rs 375 crore. The NBFC aims to raise funds on a private placement basis.Piramal Enterprises (PEL) has diversified business interests in financial services and pharmaceuticals. The company reported 11.1% rise in consolidated net profit to Rs 887.96 crore on a 20.4% increase in net sales to Rs 3,816.16 crore in Q3 FY22 over Q3 FY21.
Shares of Piramal Enterprises were trading 0.94% higher at Rs 2242.90 on BSE.
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