Piramal Enterprises Limited — Important, 27-03-2025: Updates

The Administrative Committee of Piramal Enterprises Limited has approved the issuance of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures. The base size of the issue is set at Rs. 100 Cr, with a green shoe option that allows for oversubscription of up to Rs. 200 Cr, leading to a total potential issue size of Rs. 300 Cr. These debentures are expected to be listed on the Wholesale Debt Market segment of BSE and NSE.

The tenure of the debentures is 1,461 days, with a coupon rate of 9.30% per annum, payable annually and on the redemption date of 9th April 2029. These instruments will be secured through a first ranking charge on the company's assets. In case of any payment defaults, an additional interest of 1% per annum over the applicable rate will be applicable until the default is remedied. This move reflects the company’s strategy to enhance its funding options while maintaining a stable interest rate environment. Investors should watch closely for the implications of this fund-raising on the company’s liquidity and growth initiatives.