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Piramal Enterprises to raise up to Rs 300 crore via NCDs

The Mumbai-based entity, however, has not specified the purpose of raising the fund

Piramal Enterprises

Press Trust of India  |  New Delhi 

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Diversified group today said its board has approved a proposal to raise up to Rs 300 crore through issue of non-convertible debentures (NCDs).

"In the meeting of administrative committee of board of directors of the company held on June 10, 2016, the committee approved the issue of secured non-convertible debentures (NCDs) aggregating up to Rs 300 crore on a private placement basis," said in a regulatory filing.

The Mumbai-based entity, however, has not specified the purpose of raising the fund.

is the flagship company of Piramal Group and present in healthcare, financial services and information management verticals.

The group currently has operations in over 30 countries.

Shares of Piramal Enterprises were trading 1.32% higher at Rs 1,354 on BSE.

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First Published: Fri, June 10 2016. 11:48 IST