Piramal Enterprises today said its directors will meet later this week to consider and approve raising of up to Rs 100 crore via issue of securities.
"A meeting of the committee of directors (funding) of the company will be held on March 18, to consider and approve the issue on private placement basis of unsecured non-convertible debentures amounting up to Rs 100 crore," Piramal Enterprises said in a regulatory filing.
The firm, however, did not specify the purpose for the fund raising.
Piramal Enterprises is the flagship company of Piramal Group and is present in the healthcare, financial services and information management verticals.
Piramal Group has operations in over 30 countries and a strong presence in more than 100 markets around the world.
Shares of the company closed 0.30 per cent down at Rs 928.50 apiece on BSE.
Project Overview
* 4 residences per floor
* 50% dual aspect apartments with three sided views * Floor to floor height up to 3 metres
* Balconies for all apartments
* Air-conditioned apartments
* Appx 50% of land is unexcavated
* ISKCON temple
* Swimming pools
* Club house & gym
* Bike trails & jogging track
* Retail boulevard
Piramal Vaikunth is a residential complex spread over 32 acres, featuring high-rises, townhouses, world-class facilities. The development intends to provide residents with a temple, a retail boulevard, a community center, multi-purpose badminton and basketball courts, squash courts, swimming pools, mini cricket ground, state-of-art gymnasium, day care & creche, cafes & restaurants, convenience stores, guest suites & banquet halls, etc.
Commenting on the launch Anand Piramal, Executive Director, Piramal Group said, "Piramal Realty aspires to be the most quality conscious and the customer-centric real estate company in India. There is a dearth of quality development in the city, and we have seen that there is a lot of potential for a high quality product. This is reflected in the overwhelming response we received for Phase 1 of Piramal Vaikunth, where we attracted buyers from South Mumbai, Western & Eastern Suburbs of the city as well as international markets such as USA, Singapore, London and Middle East. Today, we have pre-launched Phase 2 of the project with two towers, Vahin and Vrisa, and look forward to receiving a positive response to our premium offerings.
