Piramal Enterprises Limited has informed the Exchange regarding ' Piramal Enterprises Limited has informed the Exchange regarding 'Piramal Enterprises Limited has informed the Exchange regarding 'Committee Meeting on 27th May, 2025 for considering and approving issuance of NCDs on private placement basis'.'.
Awaiting price reaction for this filing.
Piramal Enterprises has informed the exchanges that a meeting of its Administrative Committee of the Board will be held on 27th May 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 series — Series 1 of up to Rs. 75 crore with a green shoe option of Rs. 375 crore (total up to Rs. 450 crore), and Series 2 of up to Rs. 50 crore with a green shoe option of Rs. 100 crore (total up to Rs. 150 crore). Combined, the total potential raise is up to Rs. 600 crore. Each NCD will have a face value of Rs. 1 lakh. No details on coupon rate, tenure, or end use of funds have been disclosed yet.
The company is planning to raise up to Rs. 600 crore through additional debt, which will increase leverage but provide fresh capital. The impact on the stock will depend on the coupon rate and purpose of borrowing; details are awaited from the 27th May meeting.