Today, Piramal Enterprises jumped 3.83 per cent to Rs 979.80 after the company said its board of directors approved fundraising up to Rs 750 crore through non-convertible debentures. Also, the company will raise market-linked non-convertible debentures on a PP (private placement basis) of up to Rs 100 crore. Along with an option to retain a subscription of up to Rs 650 crore, aggregating up to Rs 750 crore.

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The debt instruments of NSE are proposed to be listed as the debt and capital market segments of BSE. The tenure for these debentures will be two years. 

In India, Piramal Enterprises (PEL) is one of the large companies in financial services and pharmaceuticals. Consolidated basis, the company’s net profit declined 8 per cent to Rs 496.09 crore, whereas there was a 22 per cent increase in net sales to Rs 3,548.37 crore in the first quarter of FY23 over the first quarter of FY22.