with a view to raising funds up to 600 crore by issuing secured, rated, listed, redeemable and non-convertible debentures, Piramal Enterprises’ board of directors meeting will be held on March 1, the firm said in a stock filing report on February 24.
According to the statement of the company, during the meeting, the board will decide whether to consider NCDs or not. 100 crore with an option to retain the oversubscription Net size up to 500 crores 600 crores, on the basis of a private placement.
Read also: Piramal Enterprises’ third quarter net profit up nearly 300 per cent 3,545 crore, revenue up 41%
“We write to inform you that a meeting of the Administrative Committee of the Board of Directors of the Company will be held on Wednesday, March 1, 2023 to consider and approve the issue of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures up to Rs 100 crore with option to retain oversubscription Net size up to 500 crores 600 crore, on a private placement basis,” the firm said.
Earlier on February 8, Piramal Enterprises reported a multi-fold increase in consolidated net profit 3,545.37 crore for the quarter ending December 2022. it is against net profit 887.96 crore in the year-ago period.
The firm said its consolidated revenue from operations grew by 41.4 per cent. 3,231.64 crore as against 2,285.22 crore in the corresponding quarter of the previous fiscal. The company had a loss in the September quarter 1,536.39 crore
Piramal Enterprises shares closed down by 0.05 or 0.01 per cent. 794.60 per share in the stock market on Friday.
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