Piramal Finance Limited (Formerly known as Piramal Capital & Housing Finance Limited) has informed regarding receipt of In-principle approval from Stock Exchanges for modification in the coupon rate mentioned in the Information Memorandum relating to NCDs issued under ISINs INE516Y07014 and INE516Y07063.
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Awaiting price reaction for this filing.
Piramal Finance has received in-principle approval from stock exchanges to change the coupon (interest) rate on two of its existing Non-Convertible Debenture (NCD) tranches, identified by ISINs INE516Y07014 and INE516Y07063. This means the interest payable to current holders of these bonds will be revised, subject to final approval. The original terms of issuance mentioned in the Information Memorandum will be updated to reflect the new rate. The direction of the rate change (increase or decrease) is not specified in the announcement.
For existing NCD holders, their interest income from these bonds will change once the modification is implemented. The stock price impact is likely limited as this affects debt instruments and not equity, but it reflects the company's ongoing effort to manage its borrowing costs or align with current market rates.