The administrative committee of the company's board of directors has "approved the issue of Confirmation of Allocation Note for allocation of 4,64,330 CCDs (compulsorily convertible debentures)... aggregating to Rs 4,996.2 crore to eligible QIBs (qualified institutional buyers)," Piramal Enterprises said in a filing to BSE.
The CCDs have a face value of Rs 1,07,600 each, it added.
The committee also approved the conversion price of Rs 2,690 per equity share against the floor price of Rs 2,688.35, it added.
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