The board of directors of Piramal Enterprises on Thursday approved the issue of secured non-convertible bonds up to ₹400 crore with an option to retain over-subscription of up to ₹200 crore, aggregating to a total issue size of ₹600 crore on private placement basis. The tenure of the instrument is 36 months and redemption will be on December 28, 2021, at par, it said in a statement to the exchanges. The bonds are proposed to be listed on the NSE, where its share price closed at ₹2,290.90, down 1.10 per cent.

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