Piramal Enterprises Raises Fund Worth 1000 Crores INR

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Piramal Enterprises

In a recent event, Piramal Enterprises raised huge funds amounting Rs. 1000 crores in one or more tranches under the Shelf Disclosure Document dates a few months back. The announcement was made at the Meeting of the Administrative Committee held on July 19, 2016. It allotted 150 Secured Redeemable Non-Convertible Debentures (NCD) carrying a Face Value of Rs. 10 lakhs thus compiling to Rs. 15 crores under Tranch V of the referred Shelf Disclosure. The following approved the issuance for the respective amount by Committee of Directors of Funding.

The following approved the issuance for the respective amount by Committee of Directors of Funding. The raised money aggregated to its sum through private placement basis making it public after a meeting held among Administrative Committee of Board in agreement with Issue and Listing of Debt Securities Regulations, 2008.

Growing rapidly under its flagship company Piramal Group, it is widely spread in healthcare and financial services around the globe. In a BSE filing, the company stated that its group A face value Rs. 2 has touched 52-week high nearly rising to Rs. 1673.65 on July 21, 2016. The Shelf Disclosure Document raising thousand of crores dated February 29, 2016, and it subsequently hit 52-weeks low by Rs. 805 settling at Rs. 1673.65 as well as Rs. 1513 respectively dated on September 18, 2015.

Sensex witnessed Piramal Entreprise share market closing at Rs. 1607.50 decreased by 2.37% (Rs. 38.95) in comparison to its previous closing at Rs. 1646.45. In total 166563 shares traded at NSE and BSE having a market cap of Rs. 27,737.41 crores. The promoters holding stood at 51.58%, Institutions held at 30.47% and Non-Institutions holding at 16.74%.

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