Piramal Enterprises said on Tuesday that its board has approved raising funds up to 650 crores by issuing non-convertible debentures.
The issue is up to the size With the option to retain more than the subscription up to 50 crores 600 crore, as per a regulatory filing.
“Rs. 50 crores with option to retain subscription up to Rs. 600 crores, aggregating to Rs. 650 crores,” Piramal Enterprises The regulatory filing said.
“Redemption at par on May 23, 2025,” it further added.
The Administrative Committee meeting of the Board of Directors has approved issuance of secured, rated, listed, redeemable, original protected, market linked non-convertible debentures on private placement basis.
with Piramal Enterprises Ltd (PEL) demerger of its pharma business, the stock commenced ex-pharma trading on Tuesday, August 30, 2022. The company fixed September 1 as the record date for the demerger of Piramal Pharma. Each PEL shareholder will get 4 shares of Piramal Pharma on the record date, which will be listed by October/November (60-90 days from NCLT approval) according to the company.
Piramal Pharma The company was demerged from PEL in August as part of a strategy to simplify its corporate structure. The demerger scheme was approved by the National Company Law Tribunal (NCLT) on August 12.
The stock closed at 1.87 per cent on Tuesday 903.
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