Piramal Enterprises‘s board has approved a proposal for raising up to Rs 300 crore by issuance of non-convertible debentures (NCDs).

Piramal Enterprises has said in a regulatory filing that “In the meeting of administrative committee of board of directors of the company held on June 10, 2016, the committee approved the issue of secured non-convertible debentures (NCDs) aggregating up to Rs 300 crore on a private placement basis.”

However, the purpose of raising fund has not been specified by the company.

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