Piramal Enterprises to raise Rs 100 cr via NCDs

Piramal Enterprises today said it will raise up to Rs 100 crore through issue of debentures.
In a filing to the BSE, it said the meeting of Committee of Directors has approved the allotment of 1,000 unsecured redeemable non-convertible debentures (NCDs), having the Face Value of Rs 10 lakh each, aggregating to Rs 100 crore.
These NCDs shall be listed on the National Stock Exchange of India.
The debentures will have a tenure of 17 months with an annual coupon rate of 9.33 per cent.
Shares of Piramal Enterprises closed at Rs 968.60, up 0.22 per cent on the BSE.