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 29th April 2025 to consider and approve the issuance of Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The NCDs will be issued in two separate series, each with a base size of Rs. 50 crore and a green shoe option of up to Rs. 250 crore, taking each series up to Rs. 300 crore. The combined potential issuance size is up to Rs. 600 crore, with each NCD carrying a face value of Rs. 1 lakh. The interest rate, tenor, and other terms are not disclosed in this intimation and will likely be decided at the 29th April meeting.
This is a debt-raising move through NCDs, not equity dilution, so existing shareholders are not immediately impacted. The successful placement will boost the company's borrowing capacity and may support lending or balance sheet needs; coupon rates (when announced) will signal market confidence and cost of funds.