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Piramal board approves Rs 500-crore NCD issue

Business Finance

Press Trust of India  |  New Delhi 

Diversified group Piramal Enterprises on Wednesday said its board has approved the proposal to raise up to Rs 500 crore through issue of securities on a private placement basis.

The meeting of administrative committee of the board of directors has approved the issue of secured, rated, listed, redeemable non-convertible debentures (NCDs) on private placement basis, Piramal Enterprises said in a regulatory filing.

The NCDs are proposed to be listed on wholesale debt market segment of NSE, it added.

The Mumbai-headquartered Piramal Group has presence across pharma, financial services, real estate and glass packaging.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, May 20 2020. 12:52 IST