Piramal Enterprises to issue INR 300 crore in debentures

Piramal Enterprises (BSE: 500302) has announced the issuance of secured, rated, listed, redeemable, non-convertible debentures (NCDs) up to INR 100 Crore, with an option to retain oversubscription of up to INR 200 Crore, aggregating to a total issue size of INR 300 Crore. The NCDs, to be listed on the Wholesale Debt Market (WDM) segments of the BSE and NSE, have a tenure of 1461 days, carry an interest rate of 9.30% per annum, and are secured by a first-ranking pari-passu charge over the company’s hypothecated assets. Redemption is scheduled for April 9, 2029. In a separate but related announcement, the Company also disclosed that Piramal Capital & Housing Finance Limited, a wholly-owned subsidiary, has been renamed Piramal Finance Limited effective March 22, 2025. This name change follows an INR 600 Crore investment in Piramal Finance Limited by the company through a rights issue and will support the utilization of the investment towards business/ general corporate purposes. No change in the shareholding percentage of the Company in PFL is anticipated as a result of the investment.