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.
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