 "Ajay Piramal, Piramal Housing Finance")
Ajay Piramal-led Piramal Enterprises plans to raise Rs 7,000 crore with a mix of rights issue and compulsorily convertible debentures through an institutional placement to fund the company's growth plans.
The fundraising plan was approved by the company's board at its meeting today and comes in the backdrop of the group's foray into the housing finance business and expansion of its healthcare business.
The company plans to raise Rs 2,000 crore through a rights issue with an issue price of Rs 2,380 per equity share. The issue price is 13% discount to stock's Thursday's closing price of Rs 2,740.80.
The promoters will be
