Piramal Enterprises to raise Rs 215 cr via NCDs

New Delhi: Piramal Enterprises has said it is looking to raise Rs 215 crore through issue of non-convertible debentures on private placement basis.

"The Administrative at its meeting on July 29, 2016 has approved the allotment of 2,150 secured redeemable NCD's having the face value of Rs 10 lakh each aggregating to Rs 215 crore under tranche VII...," Piramal Enterprises said in a BSE filing.

The company had earlier said it plans to raise up to Rs 1,000 crore in one or more tranches through the issuance of secured NCDs on private placement basis.

The NCDs shall be listed on the wholesale debt market segment of NSE, it added.

Shares of Piramal Enterprises today closed at Rs 1,594.40 on BSE, down 1.71 per cent from the previous close.