Piramal Enterprises gains on planning to raise capital via NCDs

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Piramal Enterprises is currently trading at Rs. 2110.15, up by 41.50 points or 2.01% from its previous closing of Rs. 2068.65 on the BSE.

The scrip opened at Rs. 2056.00 and has touched a high and low of Rs. 2115.00 and Rs. 2020.40 respectively. So far 16579 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 3302.55 on 31-Aug-2018 and a 52 week low of Rs. 1796.75 on 26-Oct-2018.

Last one week high and low of the scrip stood at Rs. 2280.25 and Rs. 2020.40 respectively. The current market cap of the company is Rs. 41708.07 crore.

The promoters holding in the company stood at 49.70%, while Institutions and Non-Institutions held 33.13% and 17.17% respectively.

Piramal Enterprises is planning to raise capital through the issue of secured, Redeemable Non-Convertible Debentures (NCDs) on private placement basis. The issue size of the NCDs is up to Rs 200 crore with an option to retain oversubscription of up to Rs 100 crore. The total size of the issue is Rs 300 crore. The Board of Directors of the Company at its meeting to be held on June 11, 2019, to consider the same.

Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management, and Financial Services.

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