Drugmaker Piramal Healthcare raised Rs 1,800 crore through commercial papers with 30-day and 75-day maturities, to pay in part for raising its stake in Vodafone India unit, Rajesh Laddha, group chief financial officer told Reuters on Monday.
The firm said on Saturday it would buy a 5.5% stake in Vodafone's India unit from Essar for Rs 3,000 crore , taking its total stake in the mobile company to about 11%.
The firm paid a yield of 10.65% and 10.15% for the April and March maturity commercial paper transactions, respectively, which was arranged by Kotak Mahindra Bank.
