Piramal Enterprises to allot NCDs worth Rs175.96 crore on private placement basis; Stock rises over 1%

29 Mar 2022 , 09:30 AM

Piramal Enterprises Limited has approved allotment of 1,750 secured NCDs each of face value of Rs10 lakh at a price of Rs10,05,497 per debenture aggregating to Rs175.96 crore on a private placement basis.

“At the Meeting of Administrative Committee of the Board of Directors of the Company held today, the Committee approved allotment of 1,750 Secured, Rated, Listed, Redeemable Principal Protected, Market Linked Non-Convertible Debentures each having a face value of Rs10,00,000/-, at a further issue price of Rs10,05,497/- per Debenture, aggregating to Rs175.96 crore on private placement basis,” company said in a regulatory filing on Monday.

It added, these Debentures are proposed to be listed on the Debt Segment and Capital Market Segment of National Stock Exchange of India Limited (NSE) and BSE Limited respectively, and NSE being the designated Stock Exchange.

At around 9.30 am, Piramal Enterprises Ltd was trading at Rs2,220.40 per share up by Rs26.6 or 1.21% from its previous closing of Rs2,193.80 per share on the BSE.