Piramal Enterprises to raise up to Rs 300 crore via NCDs

New Delhi: Diversified group Piramal Enterprises on Friday said its board has approved a proposal to raise up to Rs 300 crore through issue of non-convertible debentures (NCDs).

"In the meeting of administrative committee of board of directors of the company held on June 10, 2016, the committee approved the issue of secured non-convertible debentures (NCDs) aggregating up to Rs 300 crore on a private placement basis," Piramal Enterprises said in a regulatory filing.

The Mumbai-based entity, however, has not specified the purpose of raising the fund.

Piramal Enterprises is the flagship company of Piramal Group and present in healthcare, financial services and information management verticals.

The group currently has operations in over 30 countries.

Shares of Piramal Enterprises were trading 1.32 per cent higher at Rs 1,354 on BSE.