Piramal Enterprises announced that its board has approved a proposal to raise Rs 450 crore by issuing non-convertible debentures (NCDs) through a private placement.
The company will issue secured, rated, listed, redeemable, non-convertible debentures (NCDs) up to Rs 75 crore, along with the green shoe option to retain oversubscription up to Rs 375 crore, the total issue size aggregating up to Rs 450 crore, having a face value of Rs 1 lakh 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 company reported consolidated net profit of Rs 38.56 crore in Q3 FY25 as compared with net loss of Rs 2,377.59 crore in Q3 FY24. Total income jumped 10.1% YoY to Rs 288.76 crore in Q3 FY25.
The counter declined 2.23% to end at Rs 1011.40 on Monday, 10 February 2025.
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