Piramal Enterprises announced the successful completion of its Rights Issue that closed on 21 January 2020. The issue saw participation from most of its existing large institutional investors, as well as retail investors. The issue has been over-subscribed ~1.14 times. The Rs 3,650 crore Rights Issue offered an opportunity to all its existing shareholders to participate in the capital raise.
The Company's fund-raise to the extent of Rs 14,500 crore in FY2020 includes:
- Rs 6,750 crore (USD$950 million) from the sale of Decision Resources Group to Clarivate Analytics
- Rs 3,650 crore from the Rights Issue
- Rs 1,750 crore from CDPQ against preferential allotment of Compulsory Convertible Debentures (CCDs)
- Rs 2,300 crore from the stake sale in Shriram Transport Finance
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