Piramal Enterprises gains as board OKs 750-cr fund raising plan

20 Sep 2022 , 01:14 PM

The company said that it will raise market linked non-convertible debentures on a private placement basis upto Rs 100 crore along with an option to retain over subscription of up to Rs 650 crore, aggregating up to Rs. 750 crores. The debt intruments are proposed to be listed on debt segment and capital market segment of NSE and BSE, respectively. The tenure for these debentures will be 24 months. Piramal Enterprises (PEL) is one of the large companies in India, with a presence in financial services and pharmaceuticals. The companys consolidated net profit declined 8% to Rs 496.09 crore despite of a 22% increase in net sales to Rs 3,548.37 crore in Q1 FY23 over Q1 FY22. cPowered by Capital Market – Live News