Intimation under Regulations 29 and 50 of SEBI Listing Regulations, 2015 for intimation of Meeting of the Administrative Committee of the Board of Directors to be held on 29th April, 2025 ....
Awaiting price reaction for this filing.
Piramal Enterprises has informed the stock exchanges that a meeting of the Administrative Committee of the Board will be held on 29 April 2025 to consider the issuance of secured, rated, listed, redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The issuance is planned in two separate series, each with a base size of Rs 50 crore and a green shoe option of Rs 250 crore, taking the total for each series up to Rs 300 crore. The combined potential size across both series is therefore up to Rs 600 crore, with face value of Rs 1 lakh per NCD. The coupon rate and use of proceeds have not been disclosed in this intimation.
This signals further debt raising by Piramal Enterprises, which can add to its interest burden and leverage. The impact on shareholders will depend on the coupon rate, pricing, and end use of the funds, which will be known only after the board meeting on 29 April 2025.