Piramal Enterprises board to mull fund raising up to Rs 600 cr

The board of Piramal Enterprises will meet on Wednesday, 1 March 2023 to consider issuing non-convertible debentures aggregating up to Rs 600 crore on private placement basis.

The company's board will consider and approve the issue of secured, rated, listed, redeemable, non-convertible debentures up to Rs 100 crore along with an option to retain oversubscription up to Rs 500 crore, the total size aggregating up to Rs 600 crore, on a private placement basis.

Piramal Enterprises is one of India's leading diversified non-banking financial companies (NBFC). It reported a consolidated net profit of Rs 3,545.37 crore in Q3 FY23, steeply higher than Rs 855.08 crore in Q3 FY22. Total income tumbled 21.4% year on year to Rs 3,341.24 crore in the quarter ended 31 December 2022.

Shares of Piramal Enterprises were down 0.01% to settle at Rs 794.60 on Friday, 24 February 2023.

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