Intimation under Regulation 29 and 50 of the SEBI Listing Regulations, 2015 for intimation of Meeting of the Administrative Committee of the Board of Directors to be held on 27th May, 2025 ....
Awaiting price reaction for this filing.
Piramal Enterprises has informed stock exchanges that its Administrative Committee will meet on Tuesday, 27th May 2025, to consider and approve the issuance of Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The issuance is planned in two series: Series 1 of up to Rs. 450 crore (base Rs. 75 crore plus green shoe option of Rs. 375 crore) and Series 2 of up to Rs. 150 crore (base Rs. 50 crore plus green shoe option of Rs. 100 crore). Total potential size, including green shoe, aggregates to Rs. 600 crore, with each NCD carrying a face value of Rs. 1 lakh. Coupon rate, tenure, and other final terms are yet to be decided at the meeting.
This signals a fresh debt-raising exercise of up to Rs. 600 crore through privately placed NCDs, which will increase the company's borrowings. The interest cost and end-use of funds will be key for investors to watch once the terms are finalised after the 27th May meeting.