Piramal Enterprises Limited has informed the Exchange regarding issuance of secured, rated, listed, redeemable, non-convertible Debentures in two separate series each of Rs. 50 Crore ....
Awaiting price reaction for this filing.
Piramal Enterprises has approved the issuance of non-convertible debentures (NCDs) in two series, each with a base size of Rs. 50 crore and a green shoe option of up to Rs. 250 crore, taking the total issue size to Rs. 300 crore. Series 1 carries a coupon of 9.12% p.a. with a tenure of 820 days, while Series 2 offers 9.19% p.a. with a longer tenure of 1188 days. The NCDs will be issued on a private placement basis through the electronic book platform (EBP) and listed on the wholesale debt market segment of BSE/NSE. The debentures are secured by a first-ranking pari-passu charge on the company's assets, with a minimum security cover of 1 time.
This Rs. 300 crore debt raise will strengthen Piramal Enterprises' funding base at competitive borrowing costs (around 9%), supporting its liquidity and growth plans. For shareholders, this is a modest debt expansion that could slightly increase interest obligations but signals continued access to capital markets.