Piramal Board To Meet On 1 March, May Consider Issuance Of NCDs Up To <span Class='webrupee'>₹</span>600 Cr
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News/ Piramal board to meet on 1 March, may consider issuance of NCDs up to
₹600 cr
Premium- According to the company statement, during the meeting, the board will decide whether to consider and approve NCDs up to ₹100 crores along with an option to retain oversubscription up to ₹500 crores, the total size aggregating up to ₹600 crores, on a private placement basis.
With an aim to consider raising money up to ₹600 crore by issuing of secured, rated, listed, redeemable, and non-convertible debentures, the Piramal Enterprises' administrative board of directors will hold a meeting on 1 March, the firm said in a stock filing report on 24 February.
According to the company statement, during the meeting, the board will decide whether to consider and approve NCDs up to ₹100 crores along with an option to retain oversubscription up to ₹500 crores, the total size aggregating up to ₹600 crores, on a private placement basis.
ALSO READ: Piramal Enterprises Q3 net profit rises nearly 300% to ₹3,545 cr, 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, 1st March, 2023, to consider and approve the issue of secured, rated, listed, redeemable, non-convertible debentures up to Rs. 100 crores along with an option to retain oversubscription up to ₹500 crores, the total size aggregating up to ₹600 crores, on a private placement basis," the firm said.
Earlier on 8 February, Piramal Enterprises reported multifold rise in consolidated net profit to ₹3,545.37 crore for the quarter ended December 2022. This is against a net profit of ₹887.96 crore in the year-ago period.
The firm said that its consolidated revenue from operations rose by 41.4 per cent to ₹3,231.64 crore as against ₹2,285.22 crore in the corresponding quarter last fiscal. In the September quarter, the firm reported a loss of ₹1,536.39 crore
The stocks of Piramal Enterprises closed low by 0.05 or 0.01% at ₹794.60 apiece on Friday at the stock market.
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