Piramal announces allotment of 4.6 Lakh CCDs

India Infoline News Service | Mumbai | October 25, 2017 13:47 IST

Piramal Enterprises has announced the allotment of 4,64,300 Compulsory Convertible Debentures (CCDs) to QIBs.

In a filing made to BSE on Wednesday, Piramal Enterprises announced the allotment of Compulsorily Convertible Debentures (CCDs). The CCDs allotment has been done for Qualified Institutional Placement, wherein CCDs of the face value of Rs 1,07,600 each. These would be further convertible into equity shares of face value of Rs 2 each.

In a meeting held today, the company approved the allotment of 464,300 CCDs to the eligible QIBs.

The company has approved the allotment of CCDs to the Qualified Institutional Buyers or QIBs. The total would aggregate to Rs 4996 Cr.

The issue opened on October 12, 2017, and closed on October 17, 2017.
Piramal Enterprises Ltd is currently trading at Rs 2658.8, down by Rs 74.15 or 2.71% from its previous closing of Rs 2732.95 on the BSE.
The scrip opened at Rs 2752.35 and has touched a high and low of Rs 2752.8 and Rs 2655.55 respectively. So far 1.62 lakh(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 47157.05 crore.

***Note: This is a NSE Chart



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