Piramal Enterprises rose 1.65% to Rs 830.95 after the company's board has approved to raise upto Rs 500 crore through non convertible debentures on private placement basis.
The company plan to raise funds by issuing secured, rated, unlisted, redeemable non convertible debentures of the company on private placement basis.The company said that debentures shall be secured by a first ranking security consisting of charge over the hypothecated properties, designated account assets and such other assets as set out in debenture documents.
Piramal Enterprises is one of India's large diversified companies, with a presence in Pharmaceuticals and Financial Services.
The company reported consolidated net loss of Rs 1,536.39 crore in Q2 FY23 as against net profit of Rs 419.17 crore in Q2 FY22. Total income jumped 48.9% to Rs 2,580.62 crore in Q2 FY23 as against Rs 1732.93 crore in Q2 FY22.
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