Piramal Enterprises gained 3.22% to Rs 851 after the company's board of directors approved the issuance of market linked non-convertible debentures (NCDs) aggregating up to Rs 250 crore, on private placement basis.
The size of the issue is up to Rs 50 crore along with an option to retain over subscription of up to Rs 200 crore, aggregating up to Rs 250 crore.These secured, rated, listed, redeemable, principal protected, market linked non-convertible debentures are to be redeemed at par on 24 May 2024.
Piramal Enterprises is one of India's large diversified companies, with a presence in Pharmaceuticals and Financial Services.
The company reported consolidated net loss of Rs 1,536.39 crore in Q2 FY23 as against net profit of Rs 419.17 crore in Q2 FY22. Total income jumped 48.9% to Rs 2,580.62 crore in Q2 FY23 as against Rs 1732.93 crore in Q2 FY22.
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