Piramal gets director panel nod to raise up to Rs 500 cr

Piramal Enterprises today said its committee of directors have approved raising up to Rs 500 crore through issue of secured non-convertible debentures (NCDs).

The committee of directors (funding) has approved the issue of secured non-convertible debentures amounting up to Rs 500 crore, Piramal Enterprises said in a regulatory filing.

The company, however, did not specify the purpose for the fundraising.

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

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

Shares of the company today ended at Rs 986.40 apiece on the BSE, down 0.32 per cent from previous close.