Piramal Enterprises Ltd on Monday said it would raise up to ₹1,000 crore through non-convertible debentures on a private placement basis.
“...at the meeting of the administrative committee of the board of directors held today, the committee approved the issue of secured, rated, listed, redeemable principal protected, market-linked NCDs on private placement basis,” it said in a regulatory filing.
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The size of the issue would be up to ₹100 crore, along with an option to retain an over subscription of up to ₹900 crore, aggregating up to ₹1,000 crore.
The tenure would be 24 months and the interest rate would be 8.25 per cent per annum.
PEL however, did not specify on what it intends to do with the raised capital.