Piramal Enterprises has said that the board has approved issuance of privately placed non-convertible debentures to raise up to Rs 125 crore.
The company, however, did not disclose the intent of the fund-raising.
The administrative committee of the board of directors at its meeting today approved issuance of unsecured non- convertible debentures (NCDs) on a private placement basis of up to Rs 125 crore, the company said in a filing to the BSE.
These NCDs are proposed to be listed on the wholesale debt market segment of the NSE. The tenure of the instrument is three years one month and four days, the company said.
Shares of Piramal Enterprises were trading at Rs 2,845.20 per scrip, down 1.68 per cent from its previous close.