Piramal Enterprises To Raise Rs 690 Crore Via NCDs

Piramal Enterprises Ltd. on Monday said it is planning to raise Rs 690 crore through non-convertible debentures on private placement basis.

The administrative committee of the company's board of directors at its meeting approved the allotment of 6,900 secured, unrated, unlisted redeemable non-convertible debentures each having a face value of Rs 10 lakh aggregating to Rs 690 crore on private placement basis, Piramal Enterprises said in a BSE filing.

The company, however, did not provide any details about what it plans to do with the money being raised.

Shares of Piramal Enterprises settled at Rs 1,900.80 apiece on the BSE, down 0.10 percent from its previous close.