Piramal directors give nod to raise to raise Rs 100 crore

Piramal Enterprises said Friday its directors have approved raising of up to Rs 100 crore via issue of securities.

The meeting of committee of directors (Funding) today approved the issue of unsecured non-convertible debentures (NDCs) aggregating up to Rs 100 crore on a private placement basis, Piramal Enterprises said in a regulatory filing.

The company said it will issue 1,000 unsecured NCDs of face value of Rs 10 lakh with a tenure of 17 months at an interest rate of 9.33% per annum.

Piramal Enterprises is the flagship company of Piramal Group and is present in the healthcare, financial services and information management verticals.

Piramal Group has operations in over 30 countries and a strong presence in more than 100 markets around the world.

Shares of the company closed 2.19% up at Rs 957.55 apiece on BSE.