Piramal Enterprises board has provided its approval for issuance of privately placed non-convertible debentures to raise up to Rs 125 crore.

The company, however, did not disclose the intent of the fund raising.

It said in a BSE filing that the administrative committee of the board of directors at its meeting approved issuance of unsecured non-convertible debentures (NCDs) on private placement basis up to Rs 125 crore.

It added that these NCDs are proposed to be listed on wholesale debt market segment of NSE.

The instrument carries the tenure of three years one month and four days.

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