Piramal Enterprises shares jump 3% on plans to raise Rs 2,000 crore via NCDs
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Shares of Piramal Enterprises surged nearly 3% to their day’s high of Rs 1,123.65 on the BSE after the company’s Board of Directors on Friday approved the company's plans to raise up to Rs 2,000 crore via issuance of Non-Convertible Debentures (NCDs). The fundraise may take place in one or more tranches and the face value of the shares will be Rs 1,000 each. “Pursuant to Regulations 30 and 51 of the SEBI Listing Regulations, we write to inform you that at the meeting of Administrative Committee (‘Committee’) of the Board of Directors held today, the Committee approved the public issuance of secured Non-Convertible Debentures of face value Rs. 1,000 each aggregating up to Rs. 2,000 crores in one or more tranches,” said the company in an exchange filing. Piramal Group is a global business conglomerate with diverse interests in pharma, financial services and real estate. The Group has offices in over 30 countries and a global brand prese...