Piramal Ent rises as board OKs raising Rs 2,000-cr via NCDs

Piramal Enterprises added 1.05% to Rs 1,105.10 after the administrative committee of its board approved the public issuance of secured non-convertible debentures (NCDs) aggregating up to Rs 2,000 crore in one or more tranches.

The debentures will have a face value of Rs 1,000 each.

Piramal Enterprises (PEL) is a leading diversified NBFC in India with a presence across retail lending, wholesale lending, and fund-based platforms. The company has investments and assets worth around $10 billion, with a network of branches across 26 states/UTs.

The NBFC reported a 238.2% surge in consolidated net profit to Rs 162.97 crore on a 9.2% rise in total income to Rs 2,486.18 crore in Q2 FY25 over Q2 FY24.

 

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