Piramal Enterprises announced that its Board of Directors has approved a private offering of non-convertible debentures (NCDs) worth up to Rs 500 crore. The company said in a regulatory filing that the Administrative Committee of the Board of Directors approved the issuance of secured, rated, listed, redeemable, principal-protected, market-linked non-convertible debentures up to Rs 100 crore on a private placement basis, with an option to retain oversubscription of up to Rs 400 crore, totalling up to Rs 500 crore. The debentures, which will be listed on the National Stock Exchange’s debt and capital market segments as well as the BSE, will have a 30-month term and an 8% coupon rate.
