Piramal Enterprises to Raise Rs 600 Crore Through NCDs
By Ankur Chandra | Updated at: May 31, 2025 10:46 PM IST
Piramal Enterprises Limited has informed the exchange regarding the issue of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) on private placement basis on the electronic book provider (EBP) platform. The decision was approved at a meeting of the Administrative Committee of the Board on 27 May 2025.
Key Details of the NCD Issuance
| Particulars | Series 1 (ISIN: INE140A07815) | Series 2 (ISIN: INE140A07831) |
|---|---|---|
| Base Issue Size | ₹75 crore | ₹50 crore |
| Green Shoe Option | ₹375 crore | ₹100 crore |
| Total Size | ₹450 crore | ₹150 crore |
| Tenure | 3550 days (~9.7 years) | 792 days (~2.2 years) |
| Coupon Rate | 9.10% p.a. (annual + maturity date) | 9.12% p.a. (annual + maturity date) |
| Redemption Date | 23 February 2035 | 6 August 2027 |
| Face Value | ₹1,00,000 per debenture | ₹1,00,000 per debenture |
| Security | First pari-passu charge over hypothecated assets | Same as Series 1 |
| Listing | WDM Segment of NSE (designated) and BSE | WDM Segment of NSE (designated) and BSE |
| Penalty for Default | 2% p.a. over coupon rate on delayed amount | Same as Series 1 |
The debts are secured by a first-priority pari passu hypothecation over the company’s present and future hypothecated non-excluded assets, and with security minimum cover ratio of 1x.
Conclusion
This capital raise reflects Piramal Enterprises’ continued focus on optimizing its debt profile through structured long- and short-tenure borrowings. The differentiated coupon rates and staggered maturities suggest a strategic approach toward interest rate management and liquidity planning.
Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. The content is based on highly reliable resources. Still if there is any error it is deeply regretted. Write to us for getting any error corrected.
https://nsearchives.nseindia.com/corporate/PEL_27052025185710_PEL_Outcome_NCDs_27052025_sd.pdf
