Piramal board approves proposal to raise Rs 500 crore NSD issue

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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