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 the stock exchanges that a meeting of the Administrative Committee of the Board of Directors will be held on 27th May 2025 to consider issuing Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis in two series. Series 1 has a base size of Rs. 75 crore with a green shoe option of up to Rs. 375 crore, aggregating up to Rs. 450 crore. Series 2 has a base size of Rs. 50 crore with a green shoe option of up to Rs. 100 crore, aggregating up to Rs. 150 crore. The total potential issuance size, including green shoe options, is up to Rs. 600 crore. Each NCD has a face value of Rs. 1 lakh. The issuance will be done under the General Information Document framework.
This is a debt-raising exercise that could increase the company's outstanding borrowings. Shareholders should watch for further announcements on coupon rates, tenor, and end-use of proceeds, which will determine whether this is dilutive or simply adds to existing debt obligations.